Question: try to do it thanks Question 5 (10 marks) (suggested timing: 18 minutes) Inheritance Tax (|HT) Helen died on 14 June 2020. On that date,

try to do it thanks

try to do it thanks Question 5 (10 marks)
Question 5 (10 marks) (suggested timing: 18 minutes) Inheritance Tax (|HT) Helen died on 14 June 2020. On that date, she had the following assets: Helen's home 495,000 Quoted shares 175,000 ISA investments 95,000 Cash at bank 43,000 Car 6,000 Helen's funeral cost 5,000. . Helen's husband Frank died two years earlier, leaving a legacy to their daughter and the balance of his estate to Helen including his share of the family home. (Frank's Residence Nil Rate Band (RNRB) was not utilised at his death). . Franks' estate utilised 60% of his Nil Rate Band (NRB). . Helen's estate has been left in her will to her daughter. . Helen did not make any lifetime gifts. . The executors of Helen's estate have not yet completed an |HT Return. Required: Calculate the |HT liability arising on Helen's death, explaining your computations and state the date by which any |HT due should be paid to HMRC. [10 marks] Total: 10 marks

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