Home › Forums › IHT Exam Style Q – State Type and Value

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  • Julie Stewart
    Participant
    July 24, 2019 at 9:33 pm
    Post count: 222
    #318282

    Hi David,

    I took it to be the value after any exemptions eg annual exemption(s)/ gift exemption deducted?

    Julie.

    Tessa Roberts
    Keymaster
    July 25, 2019 at 7:26 am
    Post count: 5721
    #318286

    Morning David,

    As Julie says, by type I mean is it exempt, a PET or a CLT and by value, what value does it have in terms of IHT (so, an exempt gift has a value of £0 whereas PETS and CLTs will be their face value less any annual exemption(s) available).

    Hope that’s clearer :-)

    Peter
    Participant
    July 25, 2019 at 4:21 pm
    Post count: 169
    #318307

    Hi everyone,

    I wish I’d seen this thread before submitting my IHT ESQ answer!

    I put the value of exempt gifts as their full value, whereas because they are not subject to IHT, I now realise they should have a value of zero as far as IHT is concerned. A learning point, which is the whole point of going through the excellent EP study course!

    Tessa Roberts
    Keymaster
    July 25, 2019 at 5:23 pm
    Post count: 5721
    #318311

    Cheers Peter :-)

    David Rowson
    Participant
    July 25, 2019 at 8:36 pm
    Post count: 10
    #318318

    Thanks Julie and Tessa

    Sorry for not posting the question earlier Peter ;)

    David Rowson
    Participant
    December 18, 2019 at 4:53 pm
    Post count: 10
    #318281

    Hi Tessa

    Sorry I am not sure what value you are looking for with regards to question b)i?

    Thanks

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