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IHT and other taxes on single large cash gifts
Comments
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@LL_USS
You are right about the insurance. I've considered this.1 -
liability for paying IHT on a gift is a set of facts and scenarios you can read up onLL_USS said:But it seems to be not right. IHT (if any) is the liability of the person who has received the cash gift, not the one who gifted, right?
How Inheritance Tax works: thresholds, rules and allowances: Rules on giving gifts - GOV.UK1 -
@Bookworm225 thank you for the link - I think i get the basic points. Still there are lot of nuances for special cases. Thank you for this link and also the other link for the insurance (https://www.vitality.co.uk/life-insurance/guides/life-insurance-and-inheritance-tax/) - it is really very helpful. I certainly will need to look into this.
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