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IHT Example 1

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › IHT Example 1

Viewing 3 posts - 1 through 3 (of 3 total)
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  • October 26, 2018 at 11:25 am #479865
    racucamelia
    Member
    • Topics: 34
    • Replies: 39
    • ☆☆

    Hello sir,

    in the example 1, in the chargeable transfers calculation, for the CLT made on 15.07.2012, is taken into account only AE for 12 / 13 year. Why we can not take into account the AE for the previous year?

    The AE for the previous year is taken into accounts only for PETs? Maybe I didn’t understand correctly the theory.

    Thank you

    October 26, 2018 at 11:28 am #479866
    racucamelia
    Member
    • Topics: 34
    • Replies: 39
    • ☆☆

    Please ignore my question. I take it into consideration on the previous PET.

    Thanks

    October 29, 2018 at 5:06 pm #480152
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    No problem – and correct AE’s are applied in lifetime on a chronological basis irrespective of whether the transfer is a CLT or a PET

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