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1 potentially exempt transfer
The ultimate business dictionary > potentially exempt transfer
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2 Potentially Exempt Transfer
Stock Exchange: PETУниверсальный русско-английский словарь > Potentially Exempt Transfer
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3 chargeable transfer
Finin the United Kingdom, gifts that are liable to inheritance tax. Under U.K. legislation, individuals may gift assets to a certain value during their lifetime without incurring any liability to inheritance tax. These are regular transfers out of income that do not affect the donor’s standard of living. Additionally, individuals may transfer up to £3,000 a year out of capital. If this exemption is not used in one year, or is only partially used, then the unused allowance may be carried forward to the next year providing the full exemption is then used. Each person may also make small annual gifts of up to £250 per donee. Additionally a parent may give up to £5,000 on the occasion of an offspring’s marriage, while a grandparent or more remote ancestor may give up to £2,500, and any other person up to £1,000. Other outright gifts during a lifetime to an individual, and certain types of trust, are known as potentially exempt transfers: there is no inheritance tax to be paid on these at the time of the gift, but a liability arises if the donor dies within seven years, with that liability decreasing the longer the donor survives. If the donor dies within seven years of the gift, then potentially exempt transfers become chargeable transfers for inheritance tax purposes. -
4 потенциально необлагаемое дарение
потенциально необлагаемое дарение
Дарения, не подлежащие при их реальном осуществлении обложению налогом на наследство. Существуют и исключения, относящиеся к тем случаям, когда даритель умирает в течение определенного периода, который в настоящее время определен в семь лет. См.: lifetime transfers (дары, сделанные при жизни дарителя).
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Русско-английский словарь нормативно-технической терминологии > потенциально необлагаемое дарение
См. также в других словарях:
potentially exempt transfer — (PET) England, Wales A transfer of value made during the donor s lifetime, that comes within the provisions of section 3A Inheritance Tax Act 1984. A PET is only chargeable to IHT if the donor fails to survive for seven years from the date of the … Law dictionary
potentially exempt transfer — PET A lifetime gift made by an individual to another individual, or into an interest in possession trust that does not attract a liability to inheritance tax at the date of the gift. No charge occurs if the donor survives seven years after the… … Accounting dictionary
potentially exempt transfer — PET A lifetime gift made by an individual to another individual, or into an interest in possession trust that does not attract a liability to inheritance tax at the date of the gift. No charge occurs if the donor survives seven years after the… … Big dictionary of business and management
potentially exempt transfers — When an individual makes a gift to another person, the gift will usually be liable to inheritance tax only if the donor dies within seven years of making the gift. If the donor survives for seven years, the gift will be exempt from inheritance… … Financial and business terms
exempt transfers — Transfers resulting in no liability to inheritance tax. These are: • the first £3000 transferred in any tax year; • gifts to a spouse; • normal expenditure out of income; • small gifts, up to £250, to any number of individuals; • marriage gifts,… … Accounting dictionary
exempt transfers — Transfers resulting in no liability to inheritance tax These are: • the first £3000 transferred in any tax year; • gifts to a spouse; • normal expenditure out of income; • small gifts, up to £250, to any number of individuals; • marriage gifts,… … Big dictionary of business and management
chargeable transfer — Certain lifetime gifts that are transfers of value not covered by any of the exemptions and are therefore liable to inheritance tax. If such a lifetime gift is not a potentially exempt transfer, it is a chargeable transfer. If the gift is a… … Accounting dictionary
chargeable transfer — Certain lifetime gifts that are transfers of value not covered by any of the exemptions and are therefore liable to inheritance tax If such a lifetime gift is not a potentially exempt transfer, it is a chargeable transfer. If the gift is a… … Big dictionary of business and management
chargeable lifetime transfer — England, Wales Lifetime transfers of value (transfer of value) (broadly, gifts) that are immediately chargeable to inheritance tax at 20% (subject to any exemptions and reliefs and also subject to the individual s nil rate band). Broadly, a… … Law dictionary
gifts inter vivos — Gifts made during an individual s lifetime. The treatment of such gifts, for inheritance tax purposes, depends on the amount of the gift, the occasion of the gift, and the recipient of the gift. Small gifts can be covered by the small gifts… … Accounting dictionary
gifts inter vivos — Gifts made during an individual s lifetime. The treatment of such gifts, for inheritance tax purposes, depends on the amount of the gift, the occasion of the gift, and the recipient of the gift. Small gifts can be covered by the small gifts… … Big dictionary of business and management