Which of the following statements concerning the inheritance tax (IHT) treatment of married couples is correct?
? Married couples are taxed as a single chargeable person for IHT purposes during lifetime and on death
? Married couples are taxed separately for IHT purposes, with gifts made between spouses, on death only, exempt from IHT
? Married couples are taxed as a single chargeable person for IHT purposes, although their death estates are taxed separately
? Married couples are taxed separately for IHT purposes, with gifts made between spouses, both during lifetime and on death, exempt from IHT