I4.267 Quick succession relief examples
Example 1 — two deaths within five years
On 6 April 2017 A gave to B assets worth £11,000. A had already made chargeable transfers amounting to £350,000 in 20016/17 and he died in May 2018 having made no other transfers.
B died in May 2019, leaving an estate valued immediately before his death at £365,000, all of which he left by his Will to his son C. B had made no lifetime transfers.
The IHT payable by B on his gift from A was calculated as follows:
|Gross gift to B||£11,000|
|Deduct: Annual exemption for 2017/18||(3,000)|
|Gross gift chargeable||£8,000|
|IHT chargeable at 40%||£3,200|
The net gift received by B is £4,800.
The IHT payable on the death of B is calculated as follows:
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