Inheritance tax

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November 21, 2014 at 4:12 am #211786
MORAYO
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When do you apply the annual exemption? Sometimes or always?
November 21, 2014 at 12:50 pm #211891
Tax Tutor
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If you only need to compute the transfer of value then this is before the deduction of exemptions. If however you are required to compute the chargeable transfer, the figure to include in the IHT computations, then the exemptions must be deducted.
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