Annabel made the following lifetime gifts: Donee and details Christmas present to her friend Wedding present...
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Annabel made the following lifetime gifts: Donee and details Christmas present to her friend Wedding present to her son Gift to her niece Transfer to a trust Gift of quoted shares to her husband £ 240 16,000 15,000 335,000 500,000 Required: Date 28/11/18 05/07/19 20/09/19 28/05/20 15/06/20 a) Calculate the gross chargeable amount for each of the above gifts and any Lifetime IHT payable by Annabel. Please provide explanations for all your workings. [8 marks] b) If Annabel subsequently died on 5 June 2027, what would be the IHT consequences? [4 marks] Annabel made the following lifetime gifts: Donee and details Christmas present to her friend Wedding present to her son Gift to her niece Transfer to a trust Gift of quoted shares to her husband £ 240 16,000 15,000 335,000 500,000 Required: Date 28/11/18 05/07/19 20/09/19 28/05/20 15/06/20 a) Calculate the gross chargeable amount for each of the above gifts and any Lifetime IHT payable by Annabel. Please provide explanations for all your workings. [8 marks] b) If Annabel subsequently died on 5 June 2027, what would be the IHT consequences? [4 marks]
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Answer rating: 100% (QA)
a Calculate the gross chargeable amount for each of the above gifts and any Lifetime IHT payable by Annabel Please provide explanations for all your w... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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