Tx notes fa22 Final

Exempt
Chargeable
Total
1/4/95 – 31/3/96 Occupation
12m
12m
1/4/96 – 30/9/00 3 years any reason
36m
18m
54m
1/10/00 – 31/3/04 Occupation
42m
42m
1/4/04 – 30/6/16 Working in UK
48m
99m
147m
1/5/17 - 1/5/21 Last 9 months
9m
39m
48m
TOTALS
157m
144m
313m
PRR 210,000
×
157
= 105,335
313

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32. Nathan 
Computation of IHT on lifetime transfers chargeable when made 
Tax paid by trustees due 30/04/2018
If the transfer into trust had been delayed until after 23/10/2017 then the CLT made on 23/10/2009 
would be more than 7 years prior to the transfer and would not therefore impact on the tax 
calculation, meaning that the £270,000 transfer would all fall within the nil rate band and no IHT 
would have been payable!
(a)
Chargeable transfers
23/10/2009 17/09/2016 26/08/2017
CLT
PET
CLT
Transfer of value
356,000
47,000
273,000
Less: Exemptions:
AE 2009/10
(3,000)
AE 2008/09
(3,000)
Marriage exemption
(1,000)
AE 2016/17
(3,000)
AE 2015/16
(3,000)
AE 2017/18
Chargeable Transfer
350,000
40,000
270,000
£
Gross
IHT
23/10/2009 CLT
350,000
356,250
6,250
325,000 @ NRB = nil
25,000 @ 25% = 6,250
Tax paid by Nathan due 30/04/2010
26/08/2017 CLT
270,000
270,000
54,000
NRB of £325,000 deemed used by Gross Chargeable 
Transfers(GCT’s) in previous 7 years
626,250
270,000 @ 20%

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