Keys to a better legacy

In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again.

  1. Where a taxpayer dies within seven years of making a potentially exempt transfer taper relief is available under:

  2. Which of the following is NOT a condition that must be met for an individual to be able to backdate a negligible value claim:

  3. The normal expenditure out of income exemption applies:

  4. In the case referred to in the above question Judge Lightman commented that: ‘All that is necessary is that on the totality of evidence the pattern of actual or intended regular payments shall have been established and that the item in question conforms with that pattern.’ He also said:

  5. In relation to shares to which Enterprise Investment Scheme relief is not attributable, income tax relief can be claimed for a capital loss on shares subscribed for in a company which meets the conditions in: