IHTM04043 - Transfers on death: what makes up the estate on death
The second part of IHTA84/S4 (1) quantifies the deemed transfer by reference to the value of the deceased바카라 사이트™s estate immediately before death. This brings within the death charge the whole of the deceased바카라 사이트™s beneficial estate (IHTM04029) as defined in IHTA84/S5 (1), including settled property in which they had a qualifying interest in possession (IHTM16062) and any gift with reservation (IHTM14301) property, but not excluded property. (IHTM04251)
It also means that general provisions governing the value of a person바카라 사이트™s estate apply, for example, IHTA84/S5 (3) (allowance for liabilities).
The reference to the value immediately before death is subject to IHTA84/S171 which largely allows changes in value caused by the death (IHTM04046) to be taken into account.