What are the inheritance tax implications of transfers to and from non-resident trusts?

Oct 31, 2024 ... chargeable lifetime transfers where there is an immediate lifetime charge, e.g. when property is transferred into trust. Where the rate of ... The two main types are potentially exempt transfers (PETs) and chargeable lifetime transfers (CLTs). PETs are lifetime gifts made directly to other individuals, ... Feb 26, 2019 ... Chargeable Lifetime Transfer (CLT) ... This is one of the most commonly used gifts. Assets that are immediately chargeable to IHT are transferred ... On an individual's death, chargeable transfers to be cumulated include both immediately chargeable transfers ... chargeable lifetime transfer. The first spouse's ... Feb 1, 2023 ... When considering the IHT due on a gift made in 2018, you have to take into account all the chargeable lifetime transfers made in the 7 years before that gift. Sep 22, 2014 ... ... transfer, which previously was credited in such first retirement ... chargeable to him or her pursuant to paragraphs four and five of ... Dec 5, 2024 ... ... transfers); chargeable lifetime transfers where there is an immediate lifetime charge, so for example, when property is transferred into a trust. new lifetime trusts in excess of the nil rate band (NRB) (currently £285,000) ... Taxation of Chargeable Gains Act, 1992, c. 12, § 72 (Eng.). 10 ... Combining outright gifts (PETs) with chargeable lifetime transfers (CLTs). When combining PETs with CLTs and exempt transfers it is important to bear in mind ... These categories are Potentially Exempt Transfers (PETs) and Chargeable Lifetime Transfers (CLTs). Inheritance Tax exemptions can be achieved by means of making ...