Free CTFA Exam Braindumps (page: 5)

Philip took out a qualifying onshore endowment policy for 20 years which he made paid- up in year 9. This means that he may become personally liable to tax on the policy proceeds:

Bill, a single man, having made full use of his annual gift allowances, made a potentially exempt transfer of £100, 000 four and a half years before his death. He has made no other gifts. His residual estate is now valued at £500, 000. The Inheritance Tax liability at death is:

On Brian's death, his estate was valued at £820, 000. He bequeathed £40, 000 to a registered charity and split the balance equally between his registered civil partner and his brother. Assuming he made no lifetime transfers, what will the Inheritance Tax liability be?

Trevor is a member of a defined benefit company pension scheme. Which factor relating to his circumstances confirms that he will avoid incurring a special annual allowance charge in the current tax year?