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Inheritance tax query

Kirkmain · 2023-09-21 10:16:21

I have a question about inheritance tax question which is really bugging me If I gift my daughter £500,000, and for the sake of argument this is above the IHT allowance threshold I have; I never married, I don't own a house to utilise my resident NRB. Without revealing my age, say I live to 100, which will exceed the "7…

Comments

MarzipanCrumble Posts: 363 Forumite

23 September 2023 at 10:50AM

I have life assurance to cover IHT for when I die. Whereas I have very mixed feelings about it, I also see it as an insurance and possibly a payout which is outside my estate for my beneficiaries. If I manage to spens/give away and not owe IHT then a nice little winner for my sons!

Worth investigating if you are worried about IHT or possibly CGT when you die.

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