Hi. I'm hoping someone could clear up my confusion....
It is my understanding that transfers between married couples and civil partners are not usually subject to inheritance tax (IHT).
So, can someone explain to me the point of Exempt Excepted Estates? It seems to restrict the transfer to £1 million before IHT is due.
https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm06013
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