Part IV
Original text. Later amendments are not shown.
| May 1986 | S transfers into discretionary trust property worth £150,000. Immediate charge at the rates then in force. | Tax paid £13,750 |
| Oct 1986 | S gives T a life interest in shares worth £85,000. Immediate charge at the rates then in force. | Tax paid £19,500 |
| Jan 1991 | S makes a PET to R of £20,000. |
| Dec 1992 | T dies, and the settled shares return to S who is the settlor and therefore no tax charge on the shares on T’s death. |
| Aug 1993 | S dies. His death estate includes the shares returned from T which are currently worth £75,000, and other assets worth £144,000. |