Paraplanners Assembly 2024: Cracking the inheritance tax code: delving into the detail when calculating IHT

20 Sep 24 60 min watch

There’s nothing paraplanners love more than delving into the details of a particular technical topic.

And that’s especially true when it comes to getting to grips with the complexities of inheritance tax (IHT) calculations.

The Paraplanners' Assembly join Graeme Robb from M&G Wealth as he breaks down each stage and addresses common misconceptions around inheritance tax.

Over the course of an hour Graeme covers:

  • Nil rate bands: how nil rate bands come into play and their place in calculations
  • Failed PETs: learn how to bring failed potentially exempt transfers (PETs) back into the equation
  • Chargeable lifetime transfers: discover the impact of transfers requiring a 14-year look-back period
  • Allowances on death: explore the various allowances that can be factored into calculations if unused
  • Taper relief: how it actually works – it’s not what many think!
  • Charitable gifts: unpack the 36% band for charitable gifts and find out how to calculate it correctly
  • Tax responsibility: who’s actually responsible for paying the calculated tax

Graeme Robb (Senior Technical Manager, M&G Wealth)
Paraplanners' Assembly

Graeme Robb of M&G Wealth, joined Richard Allum of the Paraplanners' Assembly to explore the details of calculating IHT.

60 minute video (approximately)      

Learning outcomes

By the end of this session, you will be able to understand the mechanics of an IHT calculation and identify relevant matters for consideration.

Video

Claiming your CPD

A. What's the IHT rate if a gift of 10% has been made?

  1. 34%
  2. 36%
  3. 38%

B. What's the annual exempt gift allowance:

  1. £500
  2. £1,500
  3. £3,000

C. What's the threshold for tapering the residential nil rate band?

  1. £650,000
  2. £1,000,000
  3. £2,000,000

A. What's the IHT rate if a gift of 10% has been made?

  1. 34%
  2. 36%
  3. 38%

B. What's the annual exempt gift allowance:

  1. £500
  2. £1,500
  3. £3,000

C. What's the threshold for tapering the residential nil rate band?

  1. £650,000
  2. £1,000,000
  3. £2,000,000

Before collecting your certificate, please take a moment to provide us feedback on this session, please email prudential.distribution.team@prudential.co.uk

Complete the form below and we’ll email your CPD confirmation to you. Please use the email address that you would usually use when contacting us.

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