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PET Vs. CLT

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › PET Vs. CLT

  • This topic has 0 replies, 1 voice, and was last updated 5 years ago by AverageAndy.
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  • July 16, 2020 at 3:26 am #576942
    AverageAndy
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    • Topics: 128
    • Replies: 34
    • ☆☆

    sir why would a person want to go for a CLT instead of a PET? In case of PET at least there is some scope of no IHT being payable at all(case where the donee lives beyond 7 years of transfer). But in CLT it is obvious that upon transfer IHT would be payable immediately and later too(if the individual lives for less than 7 years after transfer, similar to PET).

    thanks in advance

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