Would any on know where I could access an inheritance tax calculator to include clawback of gifts made in previous 7 years etc?
Your help would be greatly appreciated
Replies (4)
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a + b + c + gifts - 325K = x.
If person = married iht = 0.
if person is a widow then iht = x - 325K x 40%
Ta Da?
I don;t know why I did all my exams when the above was the answer all along.............
Forgive my flippancy.
You won't get that info on a calculator as there are too many permutations and options.
Best way to learn is practiced examples. Textbooks?