Normal expenditure out of income exemption
Anna
Member
Hi All,
Just wanted to see if anyone is using this exemption in client's financial planning? And if so, how do you use it - do you ask clients to sign any forms, put file notes, etc?
Thanks in advance
Anna
Comments
Hi @Anna
The client needs to ensure they are recording any normal expenditure our of income.
We always tell them to keep a schedule (as per page 8 of the below) and keep it with their will
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/750238/IHT403_10_18.pdf
Hi @Jona ,
Thank you so much for your response!
Anna