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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › IHT- deductions on estate
I want to know if executors fees are deducted from estate? and what if a person dies and gives10000 to a charity and the remaining to his son… Will the 10000 be deducted from the estate?
Hi dear executors fees are not deductible from the estate only funeral expenses and mortgage expenses are deductible and as for the charity it will not be deductible from estate but it will be deducted on Nil rate band on death .I hope it clear your doubt
Executors fees are not deductible
Charity exemption is not in your syllabus – the only exempt transfer is to spouse or civil partner
Exempt transfers do not affect the nil rate band
Hope this helps