[anwerbakht]

All the articles published since September last year have been updated in accordance with new rates and allowances, along with amendments in Finance Act 2010 and published them all marking them as relevant for this June-11 attempt.

The only article that is not published this time is “Remittance Basis”, thats why I initiated this post.

Thanks for your reply.

[anwerbakht]

You are welcome.

[anwerbakht]

There seems no contradiction. Both BPP and HMRC point out the same thing.

1- Only Annul Exemption(AE) can be carried forward to the next year, so in a year a maximum of 6,000pounds can be deducted as relief.

2- This is what happens in the BPP’s example quoted above, explained below;

Gift Value 153,000
AE(for 2years) (6,000)
Marriage gift exemption (5,000)

PET after all reliefs 142,000

Gifts on wedding to immediate children gives a relief of 5,ooo pounds and 2,500 to grand-children.

[Author]

Posts