We are coming to the end of the administration of an estate.
2% of the residue passes to charity and the Re Benham approach has been specified in the Will.
I am completing the C4 Correct Account and am assessing the amount of the charitable exemption which should be applied.
When I complete the IHT400, I calculated the amount of the charitable exemption on date of death figures. However, now that we are approaching the finalisation of the estate, I wonder whether I should be applying the exemption against what the charitable are now likely to receive, rather than date of death values.
What is the correct method of calculating the charitable exemption?
Martyn Dixon
Harold Bell Infields & Co