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Taper relief

This topic has 1 reply, 2 voices, and was last updated 7 years ago by Tax Tutor.

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November 21, 2017 at 7:31 pm #417199
tony0117
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I am a bit confused about the taper relief in IHT.
Is the relief only applied to PET or any lifetime transfers (including CLT)?
Thank you!
November 22, 2017 at 3:01 pm #417419
Tax Tutor
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It is applied to IHT charged on death on either PET’s or CLT’s made between 3 – 7 years before death and upon which an amount of IHT is payable ie not fully covered by the nil rate band – the taper relief reduces the tax charge!
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