Overview

exit charge


Show Summary Details

Quick Reference

The charge to inheritance tax made when an asset is taken out of a discretionary trust. The inheritance tax liability is calculated by taking the rate of inheritance tax charged at the most recent ten-year charge before the asset leaves the trust and applying the fraction:

number of completed quarters since the ten-year charge/40.

Subjects: Financial Institutions and Services.


Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.