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hello Sir,
regardind partas c where we are required to calculate IHT to be paid if blue were to die,why the nil rate band is taken 325000 ,when the when the nil rate band has already been used completely?
thanks….I don’t have access to this question or the answer you are looking at so please give details, though I suspect you may be confusing the correct use of the nil rate band when now calculating the IHT payable on the death of the taxpayer with the earlier and separate calculation of IHT payable on Chargeable lifetime transfers (CLT’s), when you would utilise the nil rate bands available at the time the CLT’s were made! This would suggest you need to go back and study this area more carefully if that is indeed the case.
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