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Deeds of Variation and Quick Succession Relief

Elderly clients with no children often leave their Estates to siblings who are also elderly. This
can lead to a tax charge on two Estates, sometimes one within a short time of the other.

Quick Succession Relief (“QSR”) offers some relief against this with a tapered relief against
the tax. 100% relief is available in the first year, reducing to 20% between years four and five
of the date of the first death. This relief can be difficult to claim and specific information must
be provided.

In the two years following the first death consideration should also be given to a Deed of
Variation. This can redirect the first Estate to the second Estate’s beneficiaries. This
operates as an Inheritance Tax Relief in most situations but must be completed within two
years and certain limitations apply.

Contact Us Today

Individual circumstances vary and specific advice must be obtained from one of our legal
experts before proceeding. Please contact us on 01323 727321 or info@hartreade.co.uk to
arrange a telephone, zoom or in-person appointment.

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Please note that this article does not constitute legal advice. You should always speak to a legal professional to discuss your circumstances and consider your options.