Sbel Sbel

Hi, a CGT effect/interaction on a IHT calculation here. Scenario is a person gifts a SECOND property (e.g. valued at £700k) to a child and pays CGT (e.g. £100k capital gains tax bill)…but then the person dies less 2 years later (doesn’t last the 7 years and no tapering). Question: would the CGT that was paid be taken off the overall inheritance tax calculation? E.g. would the £700k valuation still be used for the overall IHT calculation or would it only be £600k to reflect the CGT that was paid? Thanks.