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HMRC internal manual

Inheritance Tax Manual

HM Revenue & Customs
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Rules about excepted estates: specified exempt transfers

Other exemptions, in addition to those listed at IHTM06017 may be deducted against lifetime transfers to work out the chargeable value to tax. However, in establishing whether an estate qualifies as an excepted estate, these exemptions must be ignored. The exemptions are those that apply on gifts to

If the deceased had made gifts that qualify for any of these exemptions, the value of these gifts must be added to the value of the estate and any ‘specified transfers’. Only if this total is below the relevant overall cash limit - the IHT nil rate band for low value estates (IHTM06012) or £1,000,000 for exempt estates (IHTM06013) - can the estate qualify as an excepted estate