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Query re gift allowance
mothballs39
Posts: 45 Forumite
I'm completing IHT 403. If my mother gave my daughter £1500 before my mum died can we apply for it to be taken out of mum's annual gifting allowance of £3000 if it was the only gift? I'm getting confused over the max £250 per person bit!
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Yes. You do not need to show it as a PET.mothballs39 wrote: »I'm completing IHT 403. If my mother gave my daughter £1500 before my mum died can we apply for it to be taken out of mum's annual gifting allowance of £3000 if it was the only gift? I'm getting confused over the max £250 per person bit!0
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