Excepted Estate - utter confusion!

tetrarch

jessthecat_2 said:

I'm still ploughing through these forms!
On IHT403, do I need to include all small cash gifts my sis & I received in the last 7 years, or is there a xmas/birthday allowance such that some can be disregarded?
Thanks  

There is a £3,000 "Annual Gift Allowance" that means that you can ignore these small items from the estate

Regards

Tet

Keep_pedalling

tetrarch said:

jessthecat_2 said:

I'm still ploughing through these forms!
On IHT403, do I need to include all small cash gifts my sis & I received in the last 7 years, or is there a xmas/birthday allowance such that some can be disregarded?
Thanks  

There is a £3,000 "Annual Gift Allowance" that means that you can ignore these small items from the estate

Regards

Tet

That would be the case if those individuals had not received other gifts taking the total over £3k, but if that was the case then you can still ignore small birthday and Christmas gifts. 

jessthecat_2

I just listed them all, but then deducted 3k per year in the next column, I assume that will be ok?

jessthecat_2

Do we actually need to send off all the IHT schedules? The top of IHT400 suggests not, once the pertinent figures have been copied across.

Keep_pedalling

Yes, you need to include all the supplementaries you filled in.