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Purchase property or invest ????
Comments
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Be careful not to have her move into a house she gifted to you,
because the HMRC will say it's an attempt to avoid inheritance tax, so the gifting is not valid, so 40% IHT please.
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So even if her estate is not near the IHT threshold?
What happens if she gifts me money that I use to pay off my mortgage and then she comes and lives in it with me?0 -
So even if her estate is not near the IHT threshold?
What happens if she gifts me money that I use to pay off my mortgage and then she comes and lives in it with me?
The HMRC can pick up on anything they feel is suspicious.
They can invalidate the gifting, because she still benefits from the money, so the money is still counted as inside her estate. If the total is less than the IHT threshold, then no IHT.
You just don't know how cranky they will be.
The threshold should be changing today, due to the budget.0
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