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In exam, do we need to check IHT using 20% rate on gross transfer?
Sorry but I am finding it difficult to understand what you are asking in many of your questions – what do you mean “check IHT”? If there is a CLT then the tax rate is based on who pays the tax – if the trustees pay then it is a gross transfer and we use 20%, but if the donor pays it is a net transfer and we use the 25% rate.
Thanks , I got it.