R03 - Please Help!
Hi all - new member here!
Glad I have found this as have been going mad trying to find somewhere to ask a question. I am nearing my R03 exam and have used third party resources that have the answers to their mock exam questions. However, I am attempting the CII's own paper which does not have answer explanations. If possible, would anyone please be able to shed any light on the process for the following two questions - everytime I do them i get a different answer!
- On Brian’s death in August 2019, his estate was valued at £820,000. He owned no property. He
bequeathed £40,000 to a registered charity and split the balance before tax equally between his
registered civil partner and his brother. Assuming he made no lifetime transfers, what will the
Inheritance Tax liability be?
Genevieve, aged 67, has self-employed earnings of £100,000 per year and savings income of
£10,000 per year. What is her Income Tax liability for the tax year 2019/2020?
Huge, huge thanks in advance!