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HMRC internal manual

Inheritance Tax Manual

From
HM Revenue & Customs
Updated
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Ten year anniversary: previous cumulative transfers for rate

The previous cumulative transfers, which use up the available IHT threshold are:

1) Personal cumulative total (after 27 March 1974)

  • The settlor’s personal cumulative total of chargeable transfers made in the seven years prior to the date of settlement, and after 27 March 1974. (IHTM42255)

 

  • This amount does not fall out of cumulation by the passage of time. It will be included in the calculation of every TYA charge unless IHTA84/S67 applies. (IHTM42090)

Plus

2) Cumulative proportionate charges

  • The amounts on which any proportionate charges were imposed in the ten years before the present TYA.