Commentary

I5.645 Charitable trusts example

IHT, trusts and estates

I5.645 Charitable trusts example

I5.645 Charitable trusts example

A settlement was made on 4 March 1974 whereby all the income of the settled property is paid to a charity during the life of A, and after his death the settled property is to be held upon fixed trusts for A's children.

A dies on 17 September 2018. The settled property is then worth £500,000.

  1.  

    (1)     The number of complete quarters in the period beginning with 13 March 19751 and ending the day before A's death is 174.

  1.  

    (2)     The tax rate is:

  1.  

    ((40 × 0.25) + (40 × 0.20) +

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