IHTM11026 - General procedure: restriction of exemption where the beneficiary settles a claim against the deceased바카라 사이트™s estate from their own resources (England and Wales)

There is special provision restricting the exemption when the beneficiary settles a claim (IHTM11025) against the deceased바카라 사이트™s estate otherwise than out of the assets of the estate.

Example

Under Richard's Will the whole estate passes to his surviving spouse, Harriet.

Julia (who is Richard's former spouse) makes a claim against the estate for provision out of it.

Harriet settles the claim against Richard's estate out of her own resources.

In this situation, IHTA84/S29A restricts the exemption to the overall net benefit taken by the spouse. IHTA84/S29A applies to deaths on or after 27 July 1989.

The application of IHTA84/S29A is not limited to the spouse or civil partner (IHTM11032) exemption. It also applies to

  • charity exemption (IHTM11101) (IHTA84/S23)
  • transfers to political parties (IHTM11191) (IHTA84/S24)
  • transfers to housing associations (IHTM11211) (IHTA/S24A)
  • transfers for national purposes (IHTM11221) (IHTA81/S25)
  • transfers for public benefit (IHTM11240) (IHTA84/S26)
  • potentially exempt transfers of property subsequently held for national purposes (IHTM11221) etc. (IHTA84/S26A)
  • maintenance funds for historic buildings (IHTM11250) and other property of national interest (IHTA84/S27); and
  • employee trusts (IHTM04100) (IHTA/S28 and S28A).