Estate Claims and Taxation
1975 Act claims, lifetime and death Inheritance Tax, reservations, exemptions, reliefs, anti-avoidance and administration-period Income Tax and CGT.
How to study for FLK2
Use closed-book rule anchors, realistic client facts, primary-classification ranges and an ethical decision check across every subject.
Core concepts
Concept 1
Apply the 1975 Act time limit, eligible applicant classes, reasonable-financial-provision ground and statutory factors.
Exam cue: Build a transfer timeline and identify donor, donee, asset, date and retained benefit.
Concept 2
Classify lifetime transfers as immediately chargeable, potentially exempt or reservation of benefit and apply death transfers.
Exam cue: Separate estate liability, payment burden and ultimate beneficiary incidence.
Concept 3
Use supplied monetary values while applying exemptions, reliefs, burden, liability, incidence and anti-avoidance scope.
Concept 4
Separate personal representatives' administration-period Income Tax and Capital Gains Tax from beneficiaries' later tax position.
Risk pitfalls and guardrails
Treating every disappointed relative as an eligible successful claimant.
Guardrail: Check the sitting-specific law cutoff, keep Solicitors Accounts in its official context and reject any answer that imports an FLK1 rule as the controlling subject.
Applying one tax charge without considering lifetime history and reserved benefit.
Guardrail: Check the sitting-specific law cutoff, keep Solicitors Accounts in its official context and reject any answer that imports an FLK1 rule as the controlling subject.
Memory anchors
Estate Claims and Taxation: scope
1975 Act claims, lifetime and death Inheritance Tax, reservations, exemptions, reliefs, anti-avoidance and administration-period Income Tax and CGT.
Estate Claims and Taxation: focus 1
Apply the 1975 Act time limit, eligible applicant classes, reasonable-financial-provision ground and statutory factors.
Estate Claims and Taxation: focus 2
Classify lifetime transfers as immediately chargeable, potentially exempt or reservation of benefit and apply death transfers.
Estate Claims and Taxation: focus 3
Use supplied monetary values while applying exemptions, reliefs, burden, liability, incidence and anti-avoidance scope.
Estate Claims and Taxation: focus 4
Separate personal representatives' administration-period Income Tax and Capital Gains Tax from beneficiaries' later tax position.
Checkpoint rule
Do the check-up only after you can summarize each concept in one sentence and identify one dangerous pitfall from memory.
Knowledge Check (after reading)
Short check-up to confirm understanding of this module.
Check-up Questions
Next step personalized recommendations
Continue learning
Move forward only after this module is stable.
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