📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

IHT regarding wedding contributions

davee64_2
davee64_2 Posts: 9 Forumite
Part of the Furniture First Post Combo Breaker
in Weddings & anniversaries
We gave our daughter £6k towards their wedding (they are so expensive) and purchased furniture bringing total to just over £10k.
This was 9 years ago.
Would this fall onto the IHT bracket?

Comments

  • Browntoa
    Browntoa Posts: 49,609 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    No

    Past the 7 years for tax purposes 
    Ex forum ambassador

    Long term forum member
  • Keep_pedalling
    Keep_pedalling Posts: 21,051 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    In addition your annual gift exemption of £3,000 each you would also have the additional ‘gift in contemplation of marriage’ exemption available (£5,000 each) so even if you had died within 7 years of the gift, it would not form part of your estate for IHT purposes. 
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.3K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.8K Spending & Discounts
  • 244.3K Work, Benefits & Business
  • 599.5K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture