This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Inheritance Tax Manual

Structure of the charge: what is an exempt transfer?

There are a number of exemptions that apply to Inheritance Tax. These are detailed in sections 11 (IHTM11000) and 14 (IHTM14000). A transfer may be partially exempt where only part of the transfer is eligible for relief or exemption. Though all the exemptions apply to actual transfers of value (IHTM04024) the legislation specifically prevents some of the exemptions applying to deemed transfers of value. (IHTM04025)