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
Fozia
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IHT -Q38 practice questions
What 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.
Look at my answer to the question from nelka (just a few questions below this one) on the NRB in the Nathan question (Q38)
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