Inheritance Tax, can you please clear something up for me ??

ajphills

Hi all,
Would just like to invite comments on a situation if I may ?
My dad died 2 years ago leaving his whole estate to my mum. A will is in place for when she passes leaving amounts to grand children etc.
The estate currently comprises of a property valued at around £*** investments / banking £*** plus personal possessions.
At this point what is the standing with regards to inheritance tax ?
Many thanks

Keep_pedalling

There’s will be no IHT, your mother has a NRB of £325k and your father’s full NRB is transferable to her estate. With the house her estate would actually need to exceed £1M before any tax was due as two lots of residential NRB are also available, although not required.

ajphills

Thank you just what I wanted, was uncertain as to whether my dads allowance would be transferred giving £650 threshold.
Many thanks again