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IHTM11114 | General outline: quantifying the exemption

From HM Revenue & Customs · Inheritance Tax Manual

When considering the extent of any exemption you should look out for situations where

  • lifetime transfers () are involved

  • the transfer is only partly exempt ()

  • the deceased is domiciled outside the UK ()

  • there is a claim () against a deceased person’s estate which was settled by an exempt beneficiary () out of their own resources

  • the exemption has a value limit. Inheritance Tax has no value limit. However, until 1983 there was a value limit on the corresponding exemption for Capital Transfer Tax. The limit was removed by . If you need to consider a transfer made before 15 March 1983 seek advice from Technical.