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Cash in house and IHT
jsatellite
Posts: 54 Forumite
I lived with my late mother and any spare change either of us had went into the same big coin bottle - a total of just over £100. For inheritance tax purposes, I'm assuming this counts as a jointly owned asset. I was simply going to enter 50% as hers but there's no way of really knowing the share each of us added to the bottle over the years. Do people agree it would be classed as a jointly owned asset and that splitting it in half is a good approach?
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Comments
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Well, it would be the honest approach but I suspect most would not report such a small totally untraceable amount.
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