IHTM14132 - Specific lifetime
exemptions: order in which exemptions apply
Where several lifetime-only exemptions may be relevant
- apply IHTA84/S21, normal expenditure out
of income (
IHTM14231) exemption, first on a purely
factual basis, without regard to any other exemption, limited or
unlimited
- apply IHTA84/S19, the annual exemption (
IHTM14141), last after all the other
exemptions.
If the taxpayer asks you to adopt a different order of
application of the exemptions, refer the case to your manager.
