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IHT Part 1(Technical article)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › IHT Part 1(Technical article)

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by Tax Tutor.
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  • August 21, 2017 at 4:38 pm #402802
    Candy
    Member
    • Topics: 135
    • Replies: 79
    • ☆☆☆

    Example 7.

    Son received £320.

    Can you please explain why this was not covered by the nil rate band for the tax years? As no mention of any other assets etc during that year.

    Many thanks

    August 22, 2017 at 1:26 pm #402943
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    We apply the nil rate band to the earliest transfer first – the CLT. Have you worked through the OT course notes – are you confusing nil rate band with the AE??????

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