Gift from a lottery winner - who might have to pay the inheritance tax?

Sibbers123

You can get insurance against IHT tax on lifetime gifts. It can be expensive, but definitely worth looking in to.

getmore4less

inittogether wrote: »

Hmm. Might seem a bit ungrateful, and !!!!!sh to bring up their death. I just expected the HMRC rules to be clear.

The rules are fairly clear for this situation, what you need to find out is where your gift fits in any chain of gifting in the previous 7 years to assess your potential max liability

Start at 40% of all of it if there is no nil rate band available.

you can implement the taper relief on that.


Gift inter vivos policies are used to cover your situation.


It may be that if you are the only/first person to receive a gift they could have upto £650k nil rate band to use up on your gift.