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IHT Example 1

This topic has 2 replies, 2 voices, and was last updated 3 years ago by Tax Tutor.

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October 26, 2018 at 11:25 am #479865
racucamelia
- Topics: 34
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Hello sir,

in the example 1, in the chargeable transfers calculation, for the CLT made on 15.07.2012, is taken into account only AE for 12 / 13 year. Why we can not take into account the AE for the previous year?

The AE for the previous year is taken into accounts only for PETs? Maybe I didn’t understand correctly the theory.

Thank you
October 26, 2018 at 11:28 am #479866
racucamelia
- Topics: 34
- Replies: 39
Please ignore my question. I take it into consideration on the previous PET.

Thanks
October 29, 2018 at 5:06 pm #480152
Tax Tutor
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No problem – and correct AE’s are applied in lifetime on a chronological basis irrespective of whether the transfer is a CLT or a PET
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