Inheritance Tax – Quick Succession Relief

Q. My father inherited a large sum of money a few years before his own death. This money had already been subject to Inheritance Tax, how can I avoid paying full Inheritance Tax on the same money again?

A. Quick Succession Relief.

Quick Succession Relief can reduce Inheritance Tax payable if the two deaths occurred within 5 years of each other.

The reduction depends on the years between transfer and death:

  • 100% – up to one year
  • 80% – between 1 and 2 years
  • 60% – between 2 and 3 years
  • 40% – between 3 and 4 years
  • 20% – between 4 and 5 years

The Inheritance Tax threshold is £325,000.

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