Inheritance Tax question, help please

Cashby

Hi, my mom died in June, before the thresholds were raised to £600K per couple.
My Pop is still here. Can he leave me £600K iht free or £300K?

Many thanks for your help.
C.

jem16

Provided your mum left everything to your dad the yes your dad now has £600k IHT allowance.

pchelpman

Remember that it is NOT the £amount of the unused nil rate band that's carried forward to the benfit of the surviving spouse.

It's the unused percentage that's carrifed forward.

So .... if mum dies and 100% of her nil rate band is unused it is the 100% figure that's carried forward.

If dad dies 10 years later - when the nil rate band is, say, £600K - then his estate benefits from his own £600K PLUS another 100% - £600K - from the previous death.


PCH