IHT gifts from a joint current account

UnsureAboutthis

Hello


I am asking on behalf of an elderly family member.

Almost everything they have is in joint names, other than the car V5's.

When both left their jobs about 10 years ago at/about the age of 60, they decided to change their separate Current Accounts at the same bank to a joint account.

The husband is the first named on the account. Anyone one of the two can put in, take money out without the consent of the other. They see the account as a 50/50% ownership. However, their incomes are not exactly the same but both of them have regular incomes from private pensions, 2 BTL's and now state pensions.

The husband takes care of the finances/insurances/house maintenance, etc etc whilst the Mrs 
does the housekeeping/family stuff/parties side etc ie old school. Both have debit cards and cc on the same bank and the husband has access to the current account via app and online and the wife has online and no app.

The only fiance side of the wife does is using the CC and less often than the husband, uses a cashpoint a few times a month to take out a a few hundred pounds over the year.

The husband gets a couple of hundred more income per month than the wife but the total income is in excess of 5k per month, therefore income is similar as BTL's are jointly owned.

What they want to know is simply this, having taken the above into account.

The husband has made gifts to his children and grandchildren, ie the tax exemption amounts of 3k each and from the same account in the same financial years, he has done the same on behalf of his wife. He makes the transaction as gifts. They do not keep any other record

If, when the time comes, both of them pass within 7 years of the last gift/s they made.

Will the tax man see 2 x 3k gifts made by the husband as solely by the husband or accept that the wife was not online savvy and left the finances generally up to her husband, therefore accept the 6k in toal process as 2 lots of 3k belong to both ie 3k from the husband and 3k from the wife. They also make additional gifts of 250 quid, but processed by the husband using his app, online banking

Would a simple piece of paper outlining the 3k and 250 gifts, dated and who they went from, with a signature of the husband and wife by each amount done now cover, make clear what went on etc.

I Hope I am clear but happy to give more clarity just in case my post is difficult to understand.

Many thanks for your help and time.

Brie

As I understand it a simple record such as you describe would be sufficient.  This is assuming of course that any IHT would ever be payable.  

Keep_pedalling

We are talking about marital assets in a joint account so gifts made from that account are joint ones. As you are talking about exempt gifts only there will never be a need to declare them on an IHT return. 

Argonauts

Similar thoughts here 

Gave children £3000 gift is that £1500 from both of us or do I send each child £6000 that being £3000 from mam and dad 

Keep_pedalling

Argonauts said:

Similar thoughts here 

Gave children £3000 gift is that £1500 from both of us or do I send each child £6000 that being £3000 from mam and dad 

It is not £3,000 per child it is £3,000 in total.