inheritance tax of UK tax law
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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44-On the occasion of the marriage of his grand daughter, Ali gave a gold ring worth £1,300. How the above gift is treated as per inheritance tax of UK tax laws?
O a. Gift worth £1,000 is exempted and £1,300 is not exempted.
O b. Gift worth £1,300 is exempted and £1,000 is not exempted.
O c. Total gift worth £1,300 is not exempted.
O d. Total gift worth £1,300 is exempted.
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