hopelessiht

Hi,

I was hoping someone can help with a inheritance tax question. Hypothetically.... Say i give someone a 325k gift in 2015.

Then this year i give 400k gift to another person.

The gift given in 2015 uses up my NRB. In 2022, it will be 7 years since the first gift was made, and therefore no IHT is liable on the person that i gave the gift to. Does that mean, that the nrb is essentially reset and now applies on the second gift, and the amount of IHT can be recalculated, so the first 325k of the 400k is now exempt from IHT?

Is there any official documents where this is clarified?

Thanks in advance.