At min 18.33 you classified the £8000 wedding gift to the nephew as that from a remoter ancestor which according to the notes qualifies for an exemption limit of up to £2,500 and not £1,000 for anyone else. Could you please clarify.
If you want our tutor to reply to your question then you must ask in the free Ask the Tutor Forum on our free website. Our tutors do not monitor posts here but always answer posts in our Ask the Tutor Forums.
Thank you for posting this. I spent the whole day trying to figure out CLT . This video helped me understand it in 20 mins!
Inheritance tax should be abolished. It's a tax on death and It's tax on sums that have already paid income tax . Daylight robbery imo
Agreed!
Even as I study this module F6, all I think of is that taxation is theft.
At min 18.33 you classified the £8000 wedding gift to the nephew as that from a remoter ancestor which according to the notes qualifies for an exemption limit of up to £2,500 and not £1,000 for anyone else. Could you please clarify.
If you want our tutor to reply to your question then you must ask in the free Ask the Tutor Forum on our free website. Our tutors do not monitor posts here but always answer posts in our Ask the Tutor Forums.
I guess the donor was the aunt and not the grandmother.
How is the amount that the shares decrease to worked out?