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the lifetime gift made on 9 october 2014 is taken into account in the aswers when calculating the remaining amount of exemption when james dies on 22 january 2022.
so i dont understand as to why the remaining is taken as 7 years have elapsed since the gift made until james died. therefore should we not take the whole amount of exemption of 325000 when calculating IHT liability on the death of james?
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