Wilson dies on 20 December 2017 , having made only the following transfers during his lifetime: 6
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Wilson dies on 20 December 2017 , having made only the following transfers during his lifetime:
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6 June 2007 4 March 2011 11 January 2012 Gift to daughter Gift to relevant property trust Gift to son on marriage 50,000 516,400 50,000 Calculate the IHT payable during Wilson's lifetime (if any) in relation to each of the above transfers, assuming that Wilson paid this tax himself. Also calculate any further IHT payable in relation to these transfers on Wilson's death.
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The value of each gift after deduction of exemptions is as follows Tax liability on death The June 2...View the full answer
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