IHTM14131 - Specific lifetime exemptions: summary

There are two distinct groups of IHT exemptions

• those which apply only to lifetime transfers, and
• those which apply to both death and lifetime transfers.

This section is concerned only with those exemptions which apply solely to lifetime transfers

• Annual exemption ( IHTM14141)
• Small gifts ( IHTM14180)
• Normal expenditure out of income ( IHTM14231), and
• Gifts in consideration of marriage or civil partnership ( IHTM11032) ( IHTM14191).

There is no need to consider these lifetime exemptions if the transfer is wholly exempt under, for example, spouse or civil partner ( IHTM11031) or charity ( IHTM11101) exemptions.

For details of exemptions applying to both death and lifetime transfers please refer to section 11 of this manual. ( IHTM11000)