Phoebe made the following transfers during 2020-21: None of the gifts are regarded as normal expenditure out

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Phoebe made the following transfers during 2020-21:

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None of the gifts are regarded as normal expenditure out of income. Phoebe made no transfers at all during 2019-20. Calculate the value of each of her 2020-21 transfers after deduction of all the available exemptions.

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Taxation Finance Act 2020

ISBN: 9781292360713

26th Edition

Authors: Alan Melville

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Question Posted: Feb 16, 2024 03:00 AM

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Phoebe made the following transfers during 2020-21: None of the gifts are regarded as normal expenditure out

Question:

12 April 2020 17 May 2020 3 August 2020 31 October 2020 1 January 2021 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 4 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 2020

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