The Inheritance Tax Act 1984 imposes an inheritance tax (IHT) charge primarily on transfers which occur on death1. IHT is also charged retrospectively on certain gifts made within the seven years preceding death2. Transfers between married spouses and between civil partners are exempt from IHT, whether occurring during lifetime or at death3. Certain classes of property are exempt from IHT or subject to preferential treatment, including agricultural property and business property
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