IHT Computations - An Introductory Toolkit

Introduction

Many practitioners often know the theory behind how to calculate IHT on a lifetime transfer into a trust, or additional IHT on a failed PET or IHT on a death estate, but haven't had to perform the calculations themselves, or have, but have forgotten how to.

This virtual classroom seminar will include examples and case studies emphasising 'how to' on concepts such as lifetime tax on the gifting to a trust, identifying exempt transfers, navigating the nil rate band, grossing up, taper relief, identifying exempt transfers at death, identifying, and correctly applying the residence nil rate band and many more useful applied topics.

Completely practical and hands-on, the session will provide the fundamental techniques of producing an IHT charge for your clients through several examples and tasks, so that you can calculate the taxation numbers behind lifetime gifting whilst being able to also produce the IHT due as a result of the core provisions and reliefs in the death estate.

Tax legislation is increasingly complicated, and the protection of the beneficiary must be foremost in any practitioner’s mind.

If you are new to this area, then this session is for you.

What You Will Learn

This live and interactive course will cover the following:

• Lifetime Gifting:
• Exemptions
• Exhausted nil rate band
• Additional tax on death
• Failed PET
• Death Estate:
• BPR & APR
• Residence nil rate band
• Non domiciled spouse
• Charity 36% rate

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.