Example 1—clawback on a PET and effect on cumulative total
A makes a potentially exempt transfer of a 10% holding of unquoted shares in a trading company on 8 August 2018 to B. She had made a chargeable transfer of £200,000 in 2015, within the seven years before this transfer. No transferable nil rate band is available to her.
In January 2020 B gave the 10% holding to C.
A died on 5 February 2021.
The diminution in value of A's estate by virtue of the transfer of the 10% holding was
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