The value you need for part ‘B’ of the QSR formula ( IHTM22051) is the amount of tax charged on the whole of the earlier chargeable transfer ( IHTM04027). In a straightforward case when the tax on the earlier transfer has been finally determined or paid, you may use the total tax chargeable shown on the final calculation of tax. But in the following situations you must act as indicated.
| Situation | Action |
| Tax on earlier transfer reduced by an allowance, e.g. QSR | Calculate the QSR as if the full tax (before the relief) had been paid on the earlier transfer. |
| Tax on earlier transfer being paid by instalments | Calculate the QSR as if
the tax had been paid in one sum unless
Where these exceptions apply, refer the case to your Manager. |
| Allow provisional QSR
against any additional tax chargeable at your deceased's file.
Follow the instructions for provisional repayments (
IHTM31601) if this is requested by the
taxpayer.
Ask the Caseworker at file for earlier transfer to notify your file when tax on earlier transfer is final. |
|
| Earlier transfer a PET
and death of transferor after death of your deceased
Tax on earlier transfer allowed on lifetime termination of part of deceased's interest in possession in settled property | See
IHTM22081
See IHTM22092 |
Part ‘D’ of the QSR formula ( IHTM22051) requires the value of the previous transfer. This is the value on which the amount of tax was charged and is, in effect, the aggregate chargeable transfer less any chargeable lifetime transfers
