Inheritance Tax Act 1984 section 266

More than one chargeable transfer on one day

Section 266 deals with how inheritance tax is calculated when a person makes more than one chargeable transfer on the same day.

• Where the order of same-day transfers affects the value transferred, they are treated as made in the order that produces the lowest chargeable value
• Where multiple same-day transfers are made, tax is charged at the effective rate that would apply if they were a single transfer of the same combined value
• These rules do not apply to transfers made on the death of the transferor
• Chargeable transfers relating to the same settlement are treated as made by the same person for the purposes of these rules