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Sourav9271
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Sir,
If a PET is made and on a later day CLT is made….
Which transaction gets Nil rate band .
Will a CLT be prioritised over PET despite being made on a earlier day..Moreover what about AE
is date chronology prioritised over everything?.
Tax Tutor
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Firstly my apologies for not being available until now to answer your question.
The answers to your questions are within the lectures and study notes – are you using them?
AE are applied on a strictly chronological basis – the nil rate band is also applied on a chronological basis but it then depends on which computation you are performing – Lifetime transfers chargeable when made (ONLY CLT’s) or Lifetime transfers chargeable on death (both PET’s and CLT’s)
Sourav9271
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