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Examination Timing: 00H00M40S

Mrs. Taylor’s estate is valued at £800,000. The nil-rate band is £325,000, and she left £75,000 to charity. What is the taxable value of her estate, and what will be the Inheritance Tax due at 40%?

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The taxable value of Mrs. Taylor’s estate is £400,000 (£800,000 - £325,000 - £75,000). The Inheritance Tax due at 40% on £400,000 is £160,000. 


Key Point: Calculate Inheritance Tax by subtracting the nil-rate band and any charitable donations from the total estate value, then applying the tax rate to the remaining amount.

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