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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › is there disadvantage of making lifetime transfer?
help me plz if happen it is ask for exams
If the lifetime transfer is a PET for IHT purposes, then the main consideration about an immediate tax charge is CGT as a gift is a chargeable disposal and if the asset is a chargeable asset then a gain must be computed based on the open market value of the asset.
If the transfer is a CLT then clearly there is an immediate charge to IHT
