American_Bankers_Association
CTFA · Question #1
CTFA Question #1: Real Exam Question with Answer & Explanation
The correct answer is B. £26,000. See the full explanation below for the reasoning.
Question
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?
Options
- A£22,750
- B£26,000
- C£29,750
- D£34,000
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