WE 12 Death Reliefs

Question 1

What reliefs are available on Death ONLY

Answer 1

• Woodlands Relief
• Quick succession Relief

Question 2

What reliefs are available on death and Life

Answer 2

• Spouse
• Charity
• BPR
• APR
• Political Party
• Gifts for national purpose
• EBTs
• Housing assoc.

Question 3

What is woodland relief?

Answer 3

• held for 5 years
• if inherited no qualifying period of ownership
• value of trees, not the land
• tax deferred until trees are disposed of

Question 4

What is Quick succession relief?

Answer 4

applies on death where:
- estate contains assets received by gift or inheritance
- in the 5 years before death
- the assets were subject to IHT when transferred to deceased