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What is meant by "gifts out of income" and "normal expenditure" in the IHT context?
Comments
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Joesoap1264.You really should start a new thread for your questions, and you would be better posting on the deaths funerals and probate board rather than hear1
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HMRC are not a great help, even if you phone them. I wanted to find out what the "definition" of "usual standard of living/usual lifestyle/usual expenditure" was. We had splurged on very expensive holidays about 3 years apart and cashed-in part of out ISAs to pay for these. Is this ignored as "expenditure" for form IHT403. All I got from HMRC was "we are not allowed to discuss tax avoidance, goodbye"!0
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