QUESTION ONE: Brian and Laura’s daughter is getting married. What is the total amount they can give to her to be covered by the gifts in consideration of marriage exemption?
QUESTION TWO: Which of the following is not an exempt beneficiary for inheritance tax purposes?
A) Spouse/civil partner
B) Adult child
D) The National Trust
QUESTION THREE: Fred’s son is getting married. Fred has made no previous gifts. What is the maximum amount he could give to his son under the inheritance tax exemptions?
QUESTION FOUR: Chloe wishes to make an outright gift to her niece, how much can she gift without incurring an IHT charge?
D) Any amount
QUESTION FIVE: What is the maximum that can be transferred free of inheritance tax into a discretionary trust where the client has made no other gifts?
Questions supplied by Technical Connection