Inheritance Tax Full Computation

In this video I take you through a full inheritance tax computation working through a brilliant question that involves lifetime tax on lifetime transfers, death tax on lifetime transfers and death tax on death estate. This is an excellent question that also gives reminders of how to apply exemptions, RNRB, taper relief and highlights a common mistake that advanced taxation students make with due dates on tax. This is a commonly assessed area of the ACCA ATX syllabus so hopefully you will find this video useful when it comes to preparing for your exam. If you are interested in finding out more on the courses I offer please go to www.aileenedgar.com for more information. 0:00 - Introduction 2:30 - Reading the question 8:15 - Lifetime tax on lifetime transfers 10:39 - Applying annual exemptions 11.39 - The NRB 15:28 - Marriage exemption 16:40 - PETs during lifetime 18.30 - Small gifts exemption 19:33 - Death tax on lifetime transfers 25:39 - Death tax rate & taper relief 28:15 - Due date of payment 29:46 - Death tax on the death estate 32:46 - Summary