IHTM26040 - Calculating the chargeable estate: calculation where there are no specific gifts

If there are no specific gifts, the residue ( IHTM26003) is the whole estate. You should then exempt the part or proportion of the estate taken by the exempt beneficiaries or bodies. The rest is chargeable.

Example

T by Will gives whole estate in following proportions

½ to spouse ( IHTM11032) for life

¼ to charity ( IHTM11112) absolutely

¼ to brother and sister absolutely.

The ¾ given to the spouse and charity are exempt. The remaining ¼ is chargeable.