»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýapp IHTA84 contains a number of exemptions and reliefs which exclude transactions or property from being, or forming part of, a chargeable transfer (IHTM04027). »Ê¹ÚÌåÓýappse exemptions and reliefs work so that, for example,

• some dispositions (IHTM04023) are not transfers of value (IHTM04151)
• some transfers are wholly or partly exempt
• some transfers are of excluded property (IHTM04251)

»Ê¹ÚÌåÓýappre are others. This chapter is concerned only with the provisions which make transfers into ‘exempt transfersâ€�. Nearly all those provisions are contained in Part II of the IHTA. »Ê¹ÚÌåÓýapp main exempt transfer provision outside Part II is for Potentially Exempt Transfers (PETs) (IHTM04057).

»Ê¹ÚÌåÓýapp framework for the operation of the exempt transfers provisions is provided by the main charging (IHTM04021) sections of the IHTA84 - in particular IHTA84/S1 & IHTA84/S2

A transfer may be wholly exempt. If it is not you should follow the instructions on calculating (IHTM26001) the chargeable estate, to find the amount of the chargeable transfer.

»Ê¹ÚÌåÓýapp different types of exempt transfers are divided into several groups (IHTM11011) for the purpose of these instructions.