Workshop 6: Inheritance Tax (IHT) - Lifetime Transfers Flashcards by Sinmi Egbeleye | Brainscape

Q

Who is a PET a gift to?

A

A person

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Q

Who is an LCT a gift to?

A

Into a trust

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Q

List some common exemptions

A

Spouse exemption
Charity exemption
Family maintenance exemption
Annual exemption
Small gifts allowance

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