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STEP Tax Trusts & Estates (E&W) Practice Questions - STEP Advanced Certificate In Taxation Of Trusts And Estates - England And Wales Exam

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Capital is distributed from a discretionary trust 4 years (16 complete quarters) after the trust was established. No previous distributions or 10-year charges have occurred. If the initial tax rate determined at setup was 4.0%, what fraction multiplier is applied to that rate to calculate the exit charge?
Correct Answer:
16/40

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