IHT or CGT when dift

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June 2, 2013 at 3:06 pm #128270
ban123
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Hello

“Bon made a gift of shares of 1000 to her brother” is this captal gain tax or IHT PET?

what is the difference at gift between CGT and IHT PET?

Thanks
June 4, 2013 at 11:31 am #128843
Tax Tutor
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In reality there is an immediate chargeable gain to compute based on the OMV of the shares and for IHT it is a PET but will only be charged to IHT if the donor dies within 7 years. This type of question is at P6 and IHT at F6 for the moment will be asked in isolation!
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