If accepted, HM Revenue & Customs apply an incentive, so IHT due on the object, building or land is calculated and then a further 25 per cent of tax due is deducted so in many cases this will create a tax credit of 70 per cent of the agreed value. HMRC do not give change, so if the tax credit exceeds the IHT the recipient body may pay the excess. In all cases the ownership and use of the object land or building is lost. 


