PET and CLT continued – ACCA Taxation (TX-UK) Exam FA2019

4 Comments

1. A
   anzar121·5y ago

   Hello sir. Can I please ask why in illustration 11 the CLT is taxed at 20% as it is mentioned in the notes, but in illustration 12 it is taxed at 40%?
2. A
   amarjeetjaiswal·5y ago

   I think the solution of last example covered only one portion i.e lifetime trasnfers made within 7 years. The second part of solution would be chargeable estate at date of death which is not covered. Therefore, the answer of second part would be 300,000 - 150,000 (RNRB)= 150,000 @ 40% + (500,000-300,000)@40% i.e. 60,000+ 80,000 = 140,000/- . Please correct if I am wrong.
3. L
   Levan·6y ago

   It does apply but when calculating the death estate.
4. R
   rafa24uk·7y ago

   Does the RNRB not apply on the last example considering there was a main residence within the donor's estate and it was to his daughter - a direct descendant ?