chargeable transfer


chargeable transfer
Certain lifetime gifts that are transfers of value not covered by any of the exemptions and are therefore liable to inheritance tax. If such a lifetime gift is not a potentially exempt transfer, it is a chargeable transfer. If the gift is a potentially exempt transfer, but death occurs within seven years, then that potentially exempt transfer becomes a chargeable transfer.

Accounting dictionary. 2014.

Look at other dictionaries:

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