A wide variety of statutory provisions may be invoked to reduce the value transferred by the transfer immediately before death.

(1)The estate of a person immediately before death does not include excluded property (¶602-150).

(2)Certain property is left out of account in valuing the deceased's estate:

(a)settled property reverting to the settlor or his spouse or civil partner (but if the interest in possession was one to which the deceased became beneficially entitled on or after 22 March 2006, this exception from charge only applies if his interest in possession was a disabled person's interest or a transitional serial interest) (¶625-900);

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