Quick succession relief in the United Kingdom applies where there are two charges of Inheritance tax within five years.
Inheritance tax is normally chargeable on the death estate when an individual dies.
The death estate is the sum of assets less allowable debts and funeral expenses.
Allowable debts are those incurred for full consideration and those imposed by law e.g. tax.
Quick succession relief is calculated as: The net transfer is the amount actually received by the transferee after the inheritance tax.