IHT Part 1(Technical article)

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August 21, 2017 at 4:38 pm #402802
Candy
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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
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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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