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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?.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)
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