|
|
Section 32 transfer |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Section 32 transferA reference to section 32 of the Finance Act 1981 which defined the original legislation allowing a person to transfer a payment representing pension benefits from a previous employer (that is, from an occupational pension scheme) to a personal pension plan operated by an insurance company (with approved pension schemes) of the person's choice.Similar MatchesPotentially exempt transferPotentially exempt transferA gift from one person to another which is not liable to inheritance tax provided the person making the gift lives for at least seven years after the transfer is made. If he/she dies before seven years elapse, tax will be payable, the amount being related to the number of years following the transfer prior to death according to the table below.Transfer up to 3 years before death: 100% of giftTransfer 3 to 4 years before death: 80% of giftTransfer 4 to 5 years before death: 60% of giftTransfer 5 to 6 years before death: 40% of giftTransfer 6 to 7 years before death: 20% of giftThe tax payable is normally charged to the recipient of the gift but in some circumstances it may revert to the donor's estate. Stop TransferStop TransferA block placed against a security reported lost or stolen (an adverse claim), so it cannot be transferred. TransferorTransferorThe beneficiary of a transferable letter of credit who causes a bank to transfer the credit to another party. Technology transferTechnology transferThe communication or transmission of a technology from one country to another. This may be accomplished in a variety of ways, ranging from deliberate licensing to reverse engineering. Transfer TaxTransfer TaxState tax on the transfer of real property. Based on purchase price or money changing hands. Check statutes for each state. Also called documentary transfer tax. Further SuggestionsRisk transferTransferable letter of credit Documentary Transfer Tax Electronic Funds Transfer Systems transfer payments Transfer of ownership Official unrequited transfers Transferee Transfer agent Uniform Transfers to Minors Act (UTMA) Transfer pricing Transfer deed Transferable Stock Options Legal transfer chargeable transfer capital transfer tax telegraphic transfer stock transfer form PEP transfer Transferable put right Depository transfer check (DTC) Unilateral transfer Telegraphic transfer Transfer payments Electronic depository transfers |
|
|
|