Wilson dies on 20 December 2023, having made only the following transfers during his lifetime: Calculate the
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Wilson dies on 20 December 2023, having made only the following transfers during his lifetime:
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 Lifetime tax liability The gifts to Wilsons son and daughter were PETs and gave ris...View the full answer
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