Inheritance tax Flashcards
1
Q
How are shares valued for IHT
A
Lower of:
Quarter up rule / average marked bargains
2
Q
When to used the related property rules and when to use diminution of value rules?
A
Related property - If given ALL shares.
Diminution - If given a % of shares
3
Q
How do you calculate UK Tax on foreign assets inherited for DTR calculation
A
Calculate an average rate of tax.
IHT liability / Chargeable estate
