Inheritance Tax, New Rules Apply?

Beatle_Ray

Hi Everyone,

How do i stand, my father passed away ten years ago and left everything to my mother, she is very ill in hospital at the moment so I'm trying to keep things in order, the family home is worth approx £350,000 and there are cash assets to the value of approx £100,000, is the IHT threshold £300,000 or £350,000 for us, also are there any obvious ways of not giving Mr Darling an est £80,000.

Thanks

Beatle Ray

CLAPTON

there is no IHT on your fathers estate as its all going to his wife.

when your mother dies , the IHT allowance will be 600,000 or twice whatever the then individual allowance is