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Home / Simons-Taxes /IHT, trusts and estates /Part I4 Transfers on death /Division I4.2 Exemptions and reliefs on death /Partial exemption and attribution / I4.239A Attribution procedure where there is partly exempt residue
Commentary

I4.239A Attribution procedure where there is partly exempt residue


IHT, trusts and estates

Where there are both specific gifts and division of residue between exempt and non-exempt beneficiaries, it is necessary:

  1. Ìý

    •ÌýÌýÌýÌý to calculate 'the assumed amount of tax'

  2. Ìý

    •ÌýÌýÌýÌý to calculate 'the assumed rate of tax'

  3. Ìý

    •ÌýÌýÌýÌý to gross up those specific gifts or those parts of specific gifts where grossing up is necessary at the assumed rate of tax

  4. Ìý

    •ÌýÌýÌýÌý to calculate the total value attributable to specific gifts

  5. Ìý

    •ÌýÌýÌýÌý to calculate

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Web page updated on 17 Mar 2025 17:32