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!

Inheritance Tax Protection

john_curzon · 2014-04-21 10:56:23

With Inheritance Tax I understand I cannot gift a major share of my house to my son to avoid this tax if I continue to live in it. But I've heard some aspects of 'gifting' change if you don't die within a seven year period of making the gift. Would this apply to giving him a share of the house if i continue to live in it?…

Comments

getmore4less Posts: 46,882 Forumite

21 April 2014 at 1:36PM edited 21 April 2014 at 1:40PM

Not just the 7 years(which will stop the gift with reservation) but after that as may trigger preowned asset regs if you subsiquently occupy the place without him..

A good browse of HMRC site will help.

if find a google of "HMRC I want to ask this" usualy find a ny tax info you need

eg, https://www.google.co.uk/#q=hmrc+iht+pre+owned+assets

0