My client’s husband left £5m+ agricultural property to their children when he died in 2024 (before the law changed). My client (his wife) has about the same amount to leave in her own will. Is her husband’s £2.5m allowance transferable, or has it already been used? I think it has not, since when he died there was no cap to set his gift against, but would appreciate clarification, please.
IHTM25532 is very helpful and Example 1 is of a first death before 6 April 2026. H’s use of 100% APR on his death does not affect the transferability of his £2.5m allowance to W for use after 5 April 2026.
Jack Harper
Thank you – great to know