Glossary · UK
What is Quick Succession Relief (IHT)?
Tapered IHT relief when the same assets are taxed twice within five years on successive deaths.
Full Definition
Quick Succession Relief reduces the Inheritance Tax payable on a death when the deceased had themselves received a chargeable transfer (typically an earlier inheritance) within the previous five years. The relief tapers: 100% if both events occurred within one year, 80% within two, 60% within three, 40% within four, and 20% within five. It prevents the same wealth being taxed at 40% twice in quick succession. The relief is given against the IHT liability of the second estate, not the value of the assets, so beneficiaries see a reduced tax bill rather than a step-up in valuation.
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Disclaimer: Definitions are for guidance only. For decisions about your tax, savings, property or pension situation, always consult a qualified professional or refer to gov.uk.