Commentary

I5.315 Actual rate and amount of tax payable for exit charges

IHT, trusts and estates

I5.315 Actual rate and amount of tax payable for exit charges

I5.315 Actual rate and amount of tax payable for exit charges

If the amount on which tax is charged has only one 'appropriate fraction', the appropriate fraction (see I5.314) should be multiplied by the effective rate (see I5.311) to give the 'actual rate'. The resulting percentage rate is the rate at which the tax is charged1.

The actual rate of tax is then multiplied by the amount on which tax is charged (see I5.316) to determine the tax due.

If the trustees wish to pay the IHT then this actual rate must be grossed up

If there are different appropriate fractions for

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