Inheritance tax is charged on the value transferred by a chargeable transfer (IHTA 1984, s. 1). A chargeable transfer is defined by IHTA 1984, s. 2(1), as any transfer of value by an individual other than an exempt transfer. The term ‘exempt transfer’ means a transfer which by a specific provision of the legislation is exempt from tax. Exempt transfers may therefore be exhaustively listed and defined. Most are to be found in IHTA 1984, Pt. II, Ch. I, s. 18–29. This division examines each type of exempt transfer in turn.

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