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Hi, I have a question on the below question from March /June 2021 examiners report – why is no taper relief given? The time between CLT and death is 3.5 years..
Ken died on 15 January 2021 leaving a chargeable estate valued at £245,000. He
had made gross chargeable lifetime transfers of £98,000 in October 2013 and
£118,000 in June 2017.How much inheritance tax (IHT) is payable in respect of Ken’s chargeable
estate of £245,000?Answer is £15,200 – which I got to but I reduced it for taper relief of between 3-4 yrs. Thanks!
I think I’ve realised why, is it because is it not a gift? Taper relief is only for gifts?
You should not being doing exam style questions that are 3 years out of date. The rules may have changed. Please use current resources only.
It is also in the BPP revision kit for exams up to March 2025 but you once said you don’t have access to the BPP kit, so I referenced the question elsewhere, in case you wanted to see it.
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