During her lifetime Katherine had made the following gifts; 1. On 12 June 2020, a cash gift
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Question:
During her lifetime Katherine had made the following gifts;
1. On 12 June 2020, a cash gift of £440,000 to her cousin. On 11 September 2020, a property valued at £290,000 to a trust.
No lifetime IHT was paid as it fell within the NRB at the time.
2. On her death on 28 February 2022, she left her estate, valued at £775,000 to her son.
Calculate IHT due as a result of Katherine's death and who must pay it.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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