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General
GENERAL
INHERITANCE TAX
Calculation of Liability
Inheritance Tax is calculated on the sum of PETs and lifetime chargeable transfers made in the seven years before death plus chargeable transfers arising as a result of death. Relief is given for any tax already paid on a lifetime chargeable transfer which is included in the final calculations.
Inheritance Tax is calculated on the sum of PETs and lifetime chargeable transfers made in the seven years before death plus chargeable transfers arising as a result of death. Relief is given for any tax already paid on a lifetime chargeable transfer which is included in the final calculations.

