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Posted Mon, 11 Sep 2023 11:35:08 GMT by jonodw62
Mother died in February followed by father in May. Mother catagorised as accepted estate and no IHT due. Filling in IHT400 for my father. On schedule IHT402 it requires chargeable gifts made by my late mother, which reduce the transferable NRB. It goes on to ask for exemptions related to gifts. All fine so far. What I don't understand though, bearing in mind her gifts were made 6 to 7 years ago, is how / if any taper relief would be applied. There is no associated IHT403 for her which would tie in the dates / details. It seems the reduction of the NRB is much greater than any tax that may be due following tapering. Any help would be most appreciated.
Posted Mon, 11 Sep 2023 12:08:18 GMT by HMRC Admin 18

Please contact the Inheritance Tax team for advice. See link below:

Inheritance Tax: general enquiries

Thank you.
Posted Mon, 11 Sep 2023 12:25:09 GMT by jonodw62
Hello HMRC Admin 18, Thank you for your prompt reply. I have asked them already but they were not able to answer other than to suggest I consult a solicitor. I am only looking for an understanding of how the mechanism works and can not seem to find this in the documentation, online or in other searches. Do hope you will be able to provide an explanation.
Posted Mon, 11 Sep 2023 13:44:21 GMT by HMRC Admin 18

This Forum does not deal with Inheritance Tax, hence cannot respond to your question other then referring you to Inheritance Tax Team for which link has already been provided to you in my earlier response.

Thank you.
Posted Mon, 11 Sep 2023 17:13:47 GMT by jonodw62
OK. Understood. Thank you
Posted Tue, 12 Sep 2023 17:33:33 GMT by jonodw62
Hello HMRC Admin 18. The website had all the information I required after all! Thank you again.

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