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Dear sir,
When a person die on 29th Nov 2018,she made a gift during her life time.
On 14th sept 2017,she made a gift of 6500 £1 ordinary shares in cassava ltd an unquoted investment co to her daughter .
Before the transfer Afiya owned 8000 shares out of cassava ltds issued share capital of 10,000 £1 ordinary shares.On 14th sept 2017 the Cos shares were worth £3 each for a holding of 15%,£7 each for a holding of 65% and £8 each for a holding of 80%In the solution why it’s saying under additional tax on lifetime transfer on death of donor
Like….. within nil rate band ,no tax to pay
And also,to calculate value of shares held after transfer 1500*3 how do we get 1500 ?Once again you are using out of date material and in relation to a previous reply I have given you – you must work through the OT Notes and lectures before you attempt any BPP questions!
Given that there is only the Study Notes available at moment and not the lectures you cannot have done this yet.
Only raise queries with me about the OT material – and only on BPP questions (FA 2019) AFTER you have done the relevant study of both notes and lectures and all the work referenced at the end of each chapter.
The questions you are asking indicate quite clearly that this work has not been done and in the case of IHT could not yet have been done!
If you are to succeed you must firstly acquire the knowledge before attempting to apply that knowledge
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