Complications when calculating IHT

Complications when calculating IHT
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  • 59m
  • All Levels
  • Released 2nd Aug 2021
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This session will look at some of the things that can make calculating difficult and point out traps that can catch the unwary

  • Impact of lifetime gifts

- Who bears the IHT?

- Dangers for PRs

- Changes in value between gift and death

  • When is the residence nil rate band (RNRB) available?

- Basic requirements

- Transferring unused RNRB

- Rules whree a residence left on trust

- Life interest trust ending

  • Estate divided between exempt and non-exempt beneficiaries: the rules and the dangers of getting it wrong
  • When do I have to gross up?

Have a question? If you have any comments or feedback around this content, please get in touch.

Learning objectives:

After completing this session you will be able to identify and avoid problems when calculating IHT in relation to:

• Lifetime gifts

• The residence nil rate band

• Partly exempt transfers

• Grossing up

Your CPD Certificate can be found in your Account.

Professor Lesley King

Professional Development Consultant • University of Law

Author of Wills, Taxation and Administration: A Practical Guide; A Modern Approach to Wills, Administration and Estate Planning (with Precedents); A Modern Approach to Lifetime Tax Planning for Private Clients (with Precedents); A Practitioner’s Guide to Wills; Varying the Disposition of an Estate after Death; Wills: A Practical Guide; and editor of The Probate Practitioner’s Handbook.

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