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Hi.
Pls could someone explain why Marriage Exemption has been deducted as 1000 3000 and 3000 amongst the different years? I was under the impression that the allowance for a nephew was £1000 and then this would be deducted of the ToV (47k) less AE ( Current year and prior year -6k in total). Therefore making the gross chsrbabke amount as 40k.Pls advise.
Thanks
FoziaWhat you have just said should be in the answer is exactly what IS in the answer!!
Hello Sir,
In part B of the answer, the NRB 325000 is deducted from the GCT’s in 7 years before 17/09/2012 362,500. shouldn’t there be a remainder of 37500 to be taxed by 40%, to get an IHT of 15000 instead of nil?
Thank You in advance.
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