IHTM14621 - Fall in value relief: introduction

IHTA84/S131 to S140 provide relief where tax, or additional tax,

• is payable because of the transferor’s death within seven years of a lifetime transfer,

and

• the value of the transferred property has fallen between the date of the transfer and the date of death (or, in certain circumstances, the date of an earlier sale of the property).

The relief may therefore apply to either

• the tax payable on the death on a failed PET ( IHTM14511)

or

• additional charges arising on death subsequent to an immediately chargeable transfer. ( IHTM14571)