The following questions relate to a settlor who has recently set up four discretionary Discounted Gift Trusts on consecutive dates. The combined discounted value of the transfers is more than her nil rate band so she has a lifetime IHT liability to report.
- How long does she have to submit forms IHT 100 and 100A?
- Does she need to submit four 100A forms (one for each trust)?
- Prudential’s discount calculator result is 48.53% and Transact’s is 44.37%. Which one will HMRC accept?