Tony died on 11 July 2020, leaving an estate which was valued at 900,000. None of the
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Tony died on 11 July 2020, leaving an estate which was valued at £900,000. None of the transfers made on his death were exempt from IHT. He had made the following transfers during his lifetime:
Calculate the tax payable as a result of Tony's death. (Assume that there is no unused nilrate band to be transferred from a previously deceased spouse or civil partner and that Tony's residence was not left to a direct descendant).
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To calculate the inheritance tax IHT payable as a result of Tonys death we need to determine the value of his estate for IHT purposes and apply the ap...View the full answer
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