If the remaindermen of an IPDI trust disclaim whilst the life tenant remains alive, would this be treated as a PET from RM to the life tenant? The life tenant is alive and possesses mental capacity.
On basic principles, dealings with remainder interests in the lifetime of a qualifying life tenant are outside the scope of IHT. Your question is difficult to follow though because you do not say what the consequences of this disclaimer will be &/or are intended to be.