Commentary

I4.161 Cumulation, tax rate and allocation of liability

IHT, trusts and estates

I4.161 Cumulation, tax rate and allocation of liability

Division I4.1A     Calculation of IHT on death

Contributing author
MALCOLM GUNN CTA

For updates affecting this Division please see Part I0 Updates

Calculating the IHT on death

I4.161 Cumulation, tax rate and allocation of liability

Once the value of the death estate has been established, the next question is whether and, if so, to what extent, it is exempt. This is the subject-matter of Division I4.2.

If or in so far as a transfer is not exempt it is chargeable to IHT1.

Cumulation

The IHT on a chargeable transfer made on death is determined under the table of tax rates in force at the date of

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