We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Elderly parents subsidising adult sister
Comments
-
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
1 -
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
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards