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Iht nil rate band

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Iht nil rate band

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by Tax Tutor.
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  • June 5, 2017 at 2:03 pm #390525
    b10tomling
    Member
    • Topics: 4
    • Replies: 0
    • ☆

    IHT: what happens if £400,000 is transferred and the transferor lives for greater than 7 years, is there any tax payable ie 400,000 less nil rate of 325,000 at 40%?

    Kind regards

    June 6, 2017 at 3:00 am #390738
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    If the transfer is a PET then NO IHT is payable if the transferor survives for more than 7 years.

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