$.$ll$848789159$

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$0=$larr$C==5126-30300,00050,000100,000325,000700,000400,000130,00025,00011330\%,550\%880\%25,00014000225001950016500$

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serser

$0=$ mock.gaodunco$\frac{m}{\text{\&}}\frac{?}{\text{t}\text{e}\text{s}}\frac{t}{f}$romintro?papertd$=512$

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mock.gaodun.$co\frac{m}{k}\frac{?}{\text{t}\text{e}\text{s}}\frac{t}{f}$romintro?paperld $=51$

$3$

$518TX$

$$: $015325$

rhighLight

$-$strikethrough

calculator & Scratchpad

The following scenario relates $to$ questions $26-30.$

You should assume that today's date $is31$ March $2023.$

Charles and Wilma were a married couple. Wilma died $on15$ February $2014,$ and Charles died $on1$ February $2023.$

Wilma's estate

Wilma left $an$ estate valued $at300,000$ for inheritance tax purposes. Under the terms $of$ her will,Wilma left a specific legacy $of50,000to$ her sister, and the remainder $of$ her estate $to$ her husband, Charles. Wilma had made only one lifetime gift $of100,000to$ her daughter $on30$ June $2011.$ The gift $is$ after taking account $of$ all available exemptions.

The nil rate band for the tax year $2013-14is325,000.$

Charles's estate

Charles has a chargeable estate $of700,000,$ which includes a private residence valued $at400,000,$ which has a repayment mortgage $of130,000$ remaining $onit.$ Under the terms $of$ his will, Charles left his full estate $to$ his daughter.

$On31$ January $2015,$ Charles made a gift $(a$ potentially exempt transfer$)of25,0001$ ordinary shares $in$ Black $Ltd,an$ unquoted investment company, $to$ his daughter. Before the transfer, Charles held $40,000$ Black $Ltd$ ordinary shares.

Black $Ltd$ has $an$ issued share capital $of50,0001$ ordinary shares. $On31$ January $2015,$ Black $Ltd\text{'}s$ shares were worth $3$ each for a holding $of30\%,5$ each for a holding $of50\%,$ and $8$ each for a holding $of80\%.$

$On14$ February $2022,$ Charles had made a gift $of25,000to$ his granddaughter when she got married.

Charles did not make any other lifetime gifts.

$29.$ What $is$ the value $of$ the cash gift $to$ Charles's granddaughter, after all available exemptions?

$14000$

$22500$

$19500$

$16500$

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