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Inheritance Tax
Zac10001
Posts: 4 Newbie
If I am given a sum of money, a PET, and I die 5 years after and the donor is still alive do the beneficiaries of my estate also inherit the PET for the remaining 2 years? Or does the tapered liability need to be settled on my death? Or is the PET voided?
Any help much appreciated
Any help much appreciated
0
Comments
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You are looking at the situation where the donee dies before the donor and the donor dies within seven years of making the gift?
https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm22076
seems relevant but the donor and donee would be well advised to check the position with a STEP solicitor before making the gifts.
http://www.step.org/member-directory0 -
Many thanks. have been away but will hopefully digest this evening
Best regards0
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