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IHT Taper relief
Albermarle
Posts: 28,211 Forumite
in Cutting tax
AIUI from threads I have read on here, that taper relief only applies to gifts that exceed your nil rate band.
So for example if you give away £300k and die after 6 years and 11 months, the whole £300k is counted back into the estate, as taper relief does not apply.
However in the past month I have read four separate articles on IHT, published by Fidelity; HL; Paul Lewis of Moneybox fame and AJ Bell.
All clearly indicate that taper relief applies to all gifts, with no mention that it only applies on very large gifts, and only on the amounts above the nil rate band.
Are they all wrong? they are supposed to be experts
So for example if you give away £300k and die after 6 years and 11 months, the whole £300k is counted back into the estate, as taper relief does not apply.
However in the past month I have read four separate articles on IHT, published by Fidelity; HL; Paul Lewis of Moneybox fame and AJ Bell.
All clearly indicate that taper relief applies to all gifts, with no mention that it only applies on very large gifts, and only on the amounts above the nil rate band.
Are they all wrong? they are supposed to be experts
0
Comments
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Yes I believe they are all wrong.0
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There is a lot of ignorance out there. Yes they are all wrong. Give away £325k no taper relief, give away £326k and TR applies to £1k of that gift.0
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