I5.283 QSR for QIIPs

I5.283 QSR for QIIPs

Reliefs for successive charges (otherwise known as quick succession relief or QSR) arises principally on death, see I4.266. It can also apply to settled property subject to a qualifying interest in possession (QIIP), and not only where a charge on death is involved1. The relief reduces the amount of the tax charged on the later transfer by reference to the tax charged on the earlier transfer.

The appropriate percentages of relief are2:

Period between transfersPercentage
1 year or less100
More than 1 year but not more than 2 years80
More than 2 years but not more than 3 years60
More than 3 years but not more than 4 years40
More than 4 years but not more than 5 years20

Provision is made

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