- 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:
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… … Big dictionary of business and management
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