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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › June 2015 Past Paper
Extract from question #1 on inheritance tax:
Zoe’s husband had died on 25 July 2007, and 20% of his inheritance tax nil rate band of $300,000 for the tax year 2007-08 was not used.
Extract from answer:
Available nil rate band
Nil rate band- Zoe $325,000
Husband (325,000 x 20%) 65,000
My question is why isn’t the nil rate band transferred to Zoe from her husband 20% of the 300,000 which was the nil rate band at the time of his death?
Quite simply because that is NOT the rule! See OT Course Notes page 141 illustration 4