Inheritance Tax – chapter 24

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May 28, 2023 at 4:39 pm #685246
AHernandez12
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Hi there,
For chapter 24, illustration 2, regarding the small gifts- it says it is a gift of £200 EACH to two friends, so would this then not qualify as a small gift as this would technically be £400?
Many thanks for your help. Kind regards,
May 28, 2023 at 4:42 pm #685247
AHernandez12
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Furthermore, for the CLT for that question, why is it not entitled to the AE for 2023/24 of £3,000?
Many thanks again
May 29, 2023 at 10:04 am #685292
JillyB
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If you read the manual you will see that it’s small gift per individual – so they should qualify if different people. And this is clearly shown in the answer.
There no gifts in 23/24
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