Chapter 17 - Inheritance tax - reliefs Flashcards
1
Q
Business property relief applies to:
A
100%:
Unincorporated business
Shares in unquoted TRADING business
50%:
- shares in quoted trading company
2
Q
DTR on IHT
A
The lower of:
- uk tax on the overseas asset
Based of the effective rate - overseas tax on overseas asset
3
Q
What is the effective rate for DTR on the death estate (DTR)
A
IHT liability / Gross Chargeable estate
4
Q
BPR applies to
A
All assets except “excepted assets” relating to the sale of an uni corporate business
5
Q
What are excepted assets for BPR
A
Large cash balances
Assets held for investment purposes
