Phoebe made the following transfers during 2021-22: None of the gifts are regarded as normal expenditure out

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Phoebe made the following transfers during 2021-22:

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None of the gifts are regarded as normal expenditure out of income. Phoebe made no transfers at all during 2020-21. Calculate the value of each of her 2021-22 transfers after deduction of all the available exemptions.

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Taxation Finance Act 2021

ISBN: 9781292406725

27th Edition

Authors: Alan Melville

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Question Posted: Feb 02, 2024 06:00 AM

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Phoebe made the following transfers during 2021-22: None of the gifts are regarded as normal expenditure out

Question:

12 April 2021 17 May 2021 3 August 2021 31 October 2021 1 January 2022 Gift to grandson Gift to her nephew on his marriage Gift to her husband Gift to a relevant property trust Gift to the Labour Party 50 3,000 25,000 10,000 5,000

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Gift to grandson exempt as a small gift Gift on marria...View the full answer

Taxation Finance Act 2021

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