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Elderly parents subsidising adult sister
Comments
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The idea that gifts cause IHT issues for the recipients of gifts is often misunderstood.
Even if there were no exemptions for some of it, the gifts in the last 7 years would need to be over £325k.
£500pm won't get close
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Added a bitgetmore4less said:The idea that gifts cause IHT issues for the recipients of gifts is often misunderstood.
Even if there were no exemptions for some of it, the total amount of the estate plus the gifts in the last 7 years would need to be over £325k.
£500pm won't get close
1 -
not needed this is about the recipient of the gift getting taxed.kangoora said:
Added a bitgetmore4less said:The idea that gifts cause IHT issues for the recipients of gifts is often misunderstood.
Even if there were no exemptions for some of it, the total amount of the estate plus the gifts in the last 7 years would need to be over £325k.
£500pm won't get close
The gifts use up the nil rate band first,
the recipient of the gift is rarely going to get taxed. unless the gift total over £325k0
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