Assessing: calculations: death estate: working out the aggregate chargeable transfer
Before you consider any calculations you must take account of all amendments to the values at every part of the estate. Amendments at one Entry (IHTM31011) may affect the tax to pay at another.
To this total, add the value of the previous lifetime cumulative total (PLCT) (IHTM31413).
The result is the aggregate chargeable transfer (ACT).
Alan died on 1 January 2011. His death estate contained
- Free Estate (Entry A) £330,000, and
- Will Trust (Entry B) £150,000.
Alan also made a lifetime transfer in Dec 2009 worth £50,000 (after reliefs).
£480,000 Death Entries