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November 6, 2019 at 12:18 pm
Why is the NRB being used for the Lifetime Transfers Chrageable at Death, has it not already been used up by the CLT? What am I missing?
November 6, 2019 at 12:40 pm
Think I have it worked out.
Am I correct in summarising: upon death we make a new calculation of gifts in the past 7 years and again use the NRB (and various exemptions) to calcluate excess which is taxable?
We are therefore not making use of the NRB twice, rather we are using it to perform two computations
July 27, 2019 at 2:34 pm
Sadly, I have some corrections – firstly the RNRB for FA218 is £125,000, secondly the CLT rate for tax if paid by the donor or the receiver is 20%, not 25% if paid by the donor.
Please let me know if I am missing something, but I have checked various texts and even your own notes state the above.
October 18, 2019 at 8:35 am
You missed the introduction lecture to this Chapter.
The lectures are from last year because as mentioned in the introduction lecture nothing changed apart from these rates.
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