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Inheritance Tax - Please explain the tax implications based on the below fictitious scenario.
Mr A owns property1:
Date of purchase Jan-2006
He lived at property1 as his main residence for 10 years (till end of Dec-2015)
He rents property1 for 40 years from Jan-2016 until Dec-2055
In Dec-2055 Mr A Dies at the age of 82.
Mr A buys property2 and lives there as his main residence from Jan-2016 until his death in Dec-2055.
If Mr A had sold property1 before he died, he could have claimed 10 years Private Residence Relief on the gain on disposal for the purpose of CGT.
Given that he did not sell both Property1 & 2 do they both come under IHT?