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
352
Only on
OpenTuition
you can find: Free ACCA notes
•
Free ACCA lectures
•
Free ACCA tests
•
Free ACCA tutor support
•
The largest ACCA community
June 2023 to March 2024 exams
Watch free ACCA TX lectures
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%
353
Only on
OpenTuition
you can find: Free ACCA notes
•
Free ACCA lectures
•
Free ACCA tests
•
Free ACCA tutor support
•
The largest ACCA community
Dostları ilə paylaş: |