On-Demand Events
Last Updated: 19 Oct 23 90 min watch
Inheritance Tax (IHT) is an important source of revenue for the Treasury and increasingly, IHT planning, once the preserve of a select number of high net-worth clients, is becoming mainstream.
Barrie Dawson (Technical Manager, M&G Wealth)
Graeme Robb (Senior Technical Manager, M&G Wealth)
On this event – hosted by M&G Wealth Technical Manager Barrie Dawson and Technical Manager Graeme Robb outlined the building blocks to quantify and deliver an effective IHT planning strategy.
90 minute video (approximately) I Structured CPD accredited by CII and CISI
By the end of this session, you will be able to:
To claim your CPD certificate, test your knowledge with the questions below.
Write down your answers to each of the following questions and check your answers when you click to claim your CPD certificate on the link below
1. The IHT Nil Rate Band has remained at £325k since the 2009/10 tax year. It will be maintained at this level until…
a) April 2026
b) April 2027
c) April 2028
d) April 2029
2. Which sentence is correct?
a) When calculating IHT due on the estate, the RNRB is deducted from the value of the estate on death before deducting the general NRB
b) When calculating IHT due on the estate, the RNRB is deducted from the value of the estate on death after deducting the general NRB
c) When calculating IHT due on the estate, the RNRB is deducted from the value of the estate on death while simultaneously deducting the general NRB
d) When calculating IHT due on the estate, the RNRB is not deducted from the value of the estate on death after deducting the general NRB
3. Regarding the NRB £2m Taper Threshold, when it’s exceeded, the RNRB is reduced by £1 for every £2 of value by which an estate exceeds the taper threshold. With that in mind…
a) In the case of married couples and civil partners, that threshold needs to be tested on first death
b) In the case of married couples and civil partners, that threshold needs to be tested on second death
c) In the case of married couples and civil partners, that threshold needs to be tested on both first and second death
d) In the case of married couples and civil partners, that threshold needs to be tested on neither first nor second death
4. Which sentence is correct?
a) Any part of the £3,000 annual exemption that is not used in the tax year can be carried forward but only to the subsequent tax year
b) Any part of the £3,000 annual exemption that is not used in the tax year can be carried back but only to the previous tax year
c) Any part of the £3,000 annual exemption that is not used in the tax year can be carried forward indefinitely
d) Any part of the £3,000 annual exemption that is not used in the tax year can be carried back indefinitely
1. The IHT Nil Rate Band has remained at £325k since the 2009/10 tax year. It will be maintained at this level until…
a) April 2026
b) April 2027
c) April 2028
d) April 2029
2. Which sentence is correct?
a) When calculating IHT due on the estate, the RNRB is deducted from the value of the estate on death before deducting the general NRB
b) When calculating IHT due on the estate, the RNRB is deducted from the value of the estate on death after deducting the general NRB
c) When calculating IHT due on the estate, the RNRB is deducted from the value of the estate on death while simultaneously deducting the general NRB
d) When calculating IHT due on the estate, the RNRB is not deducted from the value of the estate on death after deducting the general NRB
3. Regarding the NRB £2m Taper Threshold, when it’s exceeded, the RNRB is reduced by £1 for every £2 of value by which an estate exceeds the taper threshold with that in mind…
a) In the case of married couples and civil partners, that threshold needs to be tested on first death
b) In the case of married couples and civil partners, that threshold needs to be tested on second death
c) In the case of married couples and civil partners, that threshold needs to be tested on both 1st and second death
d) In the case of married couples and civil partners, that threshold needs to be tested on neither first nor second death
4. Which sentence is correct?
a) Any part of the £3,000 annual exemption that is not used in the tax year can be carried forward but only to the subsequent tax year
b) Any part of the £3,000 annual exemption that is not used in the tax year can be carried back but only to the previous tax year
c) Any part of the £3,000 annual exemption that is not used in the tax year can be carried forward indefinitely
d) Any part of the £3,000 annual exemption that is not used in the tax year can be carried back indefinitely
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.
Submit your details and your question and one of your Account Managers will be in touch.