IHTM26040 - Calculating the chargeable estate: calculation where there are no specific gifts

If there are no specific gifts, the residue (IHTM26003) is the whole estate. »Ê¹ÚÌåÓýapp part or proportion of the estate taken by the exempt beneficiaries or bodies will be exempt. »Ê¹ÚÌåÓýapp rest is chargeable. 

Example

Under his will Trevor gives his whole estate in following proportions

  • half to his wife (IHTM11032) for life
  • a quarter to charity (IHTM11112) absolutely
  • a quarter to his brother and sister absolutely.

»Ê¹ÚÌåÓýapp three-quarters given to the spouse and charity are exempt. »Ê¹ÚÌåÓýapp remaining one-quarter is chargeable.