The following relates to Miss Britney who died on 14/02/2020. During her lifetime Britney has made certain gifts. On the May 01, 2010 she made a gift of GBP 182000 to a trust and paid the inheritance tax. A gift of GBP 60000 was made to her nephew on his birthday on June 30, 2012. A gift of GBP 169000 was made to niece on her wedding day on June 11, 2013. On Nov 11, 2015 she made a gift of GBP 159000 to a trust and the trustees paid the Inheritance tax. Britney died on 14th February 2020. Consider all exemptions wherever necessary. Assume that the nil rate bands for each of all the previous years is GBP 325000

What is the amount of taper relief available on death for the transaction related to 11th June 2013

a.

NIL

b.

800

c.

1280

d.

5120

What is the value or chargeable amount or chargeable estate related to 11th June 2013

a.

165000

b.

166000

c.

168000

d.

169000

What is the taxable amount of value to IHT on death for the transaction related to 11th June 2013

a.

16000

b.

4000

c.

Nil

d.

20000

Who will pay the IHT on death realted to transaction on 11th June 2013

a.

Britney

b.

Trust

c.

Nephew

d.

Neice

What is the value or chargeable amount or chargeable estate related to 1st May 2010

a.

176000

b.

32500

c.

182000

d.

179000