资料内容同步f6 chapter 18

Inheritancetax:scopeandtransfersofScopeofinheritanceWhendoesachargetoIHTIHTisataxongiftsortransfersofvalue.Therearetwomainchargeableoccasions:LifetimeDeathestatei.e.giftsmadeondeathWhoisliabletoChargeablepersonsareindividualsandtrustees.Chargeablepersonsaretaxedonallgiftsofwealththattheymake.Inheritancetax:scopeandtransfersofTransfersofDiminutioninvalue/losstoThevalueoftheassettransferredforIHTisalwaysmeasuredasthereductioninvalueofthedonor’swealth,'losstodonor',nottheamountgainedbytheMrJonesowns75%ofHillJonesLtd,anunquotedinvestmentcompany.Hegivesa30%holdingtohisson.Shareholdingsonthisdatewerevalued£CalculatethevaluetransferredforIHTWhatisthevalueforCGT£TransferofvalueforCGTvalue Inheritancetax:scopeandtransfersofExemptGiftsbetweenspouses/civilpartnersareexemptfromIHT.Thisexemptionappliestobothlifetimetransfersandtransfersondeath.ExemptionsapplyingtolifetimetransfersGiftsinconsiderationofThefirst£5,000givenbyaparentisexempt.Thisappliespermarriage.Theamountislowerforgiftsbyother £2,500byalinealancestor,(e.g.grandparent)oronepartyofthemarriagetotheother£1,000byanyotherInheritancetax:scopeandtransfersofSmallgiftsUpto£250perdoneeperfiscalCannotapplytogiftsexceeding£250intotaltothesamedonee.NormalexpenditureoutofCashgiftswhicharehabitualareexemptifmadeoutofincome.Thegiftmustnotresultinareducedstandardoflivingofthedonor.Inheritancetax:scopeandtransfersofAnnual First£3,000ofvaluetransferredinanytaxyearisAnyunusedannualexemption(orpartthereof)maybecarriedforwardforoneyearonlyforuseinthefollowingtaxyear.CurrentyearAEusedbeforeAE Theexemptionisgiveninchronologicalordertotheearliestgift(s)madeinthetaxyear.Inheritancetax:scopeandtransfersofTypesoflifetimePotentiallyexempttransfersPETisagiftbetweenPETsareexemptfromIHTwhenthegiftisTheymaybecomechargeablehoweverifthedonordiessevenyearsofmakingtheChargeablelifetimetransfersAnyotherlifetimetransfersarechargeablelifetimetransfers(e.g.gifttotrust).CLTsarechargeableduringAdditionaltaxmaybecomepayableondeathifdonordiessevenyearsofmaking.E.g.某人于07年12月时有“transferofvalue”(lifetimetransfer),若是giftbetweenindividuals,则是PET. Lifetimetransfertax为0.若该人于10年6月过世,则是“within7years”, 因此Sevenyears”是一个很重要的判断标准从税收政策悟出政府鼓励富人

DeathBecomesavailableifthedieswithin7yearsofmakingthe Taxavailableduring(exceedsthenilband

Taxavailableifthedonoralsowithin7yearsofmakingtheCalculationoftaxonlifetimetransfersIHTpayableduringlifetimeIgnoreDiminutioninDeductreliefsandDeductavailablenilband–£325,000for2014/15lessanyCLTsinprevioussevenyears.Taxexcessat25%(20/80)ifdonorpaysor20%iftrustpays.(Ifquestionissilentassumedonorpaysit).Inheritancetax:scopeandtransfersofCalculationoftaxonlifetimetransfersLifetimetax:proformaLess:XLess:AENetgiftafterLess:NilbandNilbandatdateofless:CLTsinlast7yearsbeforeTax@20%(orXX*Nilbandfor2014/15is£MrButcherput£337,000intoatruston13August2014havingalreadyput£116,000intoatrustthreeyearsearlier,(thechargeablelifetimetransferwas£110,000).CalculatetheIHTpayablewhenthetrustissetupon13August2014ThetrustagreestopaytheMrButcherpaysthe£GiftAE:2013/14NetgiftafterNilbandLessCLTsinprevious7yearsbefore(110,000)TaxatGrosschargeabletransferis££Netgiftafterexemptions,as–NilbandLess:GCTsin7yearsbeforeTaxat25%Grosschargeabletransferis£360,000(331,000+Grossvalueofgift(grosschargeabletransfers=gift(afterallreliefsandexemptions)plustaxifdonor=justgift(afterallreliefsandexemptions)iftrust*GrossChargeableTransferisgenerallyusedtoDeathMrBealeput£343,000intoatruston13August2014(trusteesagreeingtopaythetax)havinggiven£50,000tohisdaughteron15March2014.Hegave£30,000tohissonon19August2014.HowmuchIHTis£Trustee££Gifttodaughter£AE:2012/13So,nolifetimeGifttotrust13.8.14(trusteepays):AE:2013/14already–NetgiftafterLess:nilbandTax@ Gifttoson AE:2014/15and2013/14alreadyused So,nolifetimeIHTischargedonPETsandCLTsmadewithinsevenyearsofdeath(iewheredonordies7years).Deathtaxiscalculatedat40%andispayablebythedoneeofthegift.Workingoutthetaxon(a)DeleteallPETsandCLTsmorethansevenyearsbeforedeath.Thesearenowexempt.DeleteanyexemptgiftswithintheStartwiththeearliestgiftwithinsevenyearsofDeathtaxwillbechargedonGrossChargeableTransfer Deductanyavailablenilband,(availablenilbandlesspreviousGrossChargeableTransfersinsevenyearspriortogift).Taxexcessovernilband@Deductanytaperrelief(seeDeductanylifetaxpaid(onlyforInheritancetax:scopeandtransfersofTaperIfgiftsweremadebetweenthreeandsevenyearsofdeathonlyapercentageoftheIHTcalculatedwillbecollected. % indeath TaperrelieftablewillbegiveninyourtaxratesandInheritancetax:scopeand