IHT Flashcards
1
Q
Quick Succession relief
A
(IHT Paid on first transfer x net transfer / gross transfer) x relevant %
E.g
£500k with £70k paid
= 70000 x (500,000 - 70,000) / 500,000
Quick Succession relief
(IHT Paid on first transfer x net transfer / gross transfer) x relevant %
E.g
£500k with £70k paid
= 70000 x (500,000 - 70,000) / 500,000