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Inheritance tax on property left to children - main residence vs not-main residence
Spreadsheet_Man_2024
Posts: 3 Newbie
in Cutting tax
Would leaving a property to children that is not a main residence attract a different treatment from an IHT point of view than a property that is a main residence? Or is the question of whether the residence is main (or not) irrelevant when considering IHT liability?
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Well - one wouldn’t benefit from the residential property allowance?Spreadsheet_Man_2024 said:Would leaving a property to children that is not a main residence attract a different treatment from an IHT point of view than a property that is a main residence? Or is the question of whether the residence is main (or not) irrelevant when considering IHT liability?0 -
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It would make little sense to leave a second property to your children and the family home to non bloodline beneficiaries. In fact it is generally a bad idea to leave specific properties to people as that could disinherit them if y the time you died the property had been sold for some reason.0
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