We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
IHT question re past gifts
baby_boomer
Posts: 3,883 Forumite
in Cutting tax
Re another question, dunstonh wrote
Under the 7 year rule, if a gift was made on 1/1/05, does the IHT cease to be payable on 1/1/12 or on 6/5/12?
I wondered if this principle applied more widely.The tax year is considered one period. It doesn't matter when in the tax year you contribute, as long as it's within the tax year.
Under the 7 year rule, if a gift was made on 1/1/05, does the IHT cease to be payable on 1/1/12 or on 6/5/12?
0
Comments
-
01/01/12 - within seven years of death not seven tax years!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.8K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards