Donate SIGN UP

Inheritance Tax after second parent dies

Avatar Image
Robert G | 19:50 Thu 10th Jan 2008 | Civil
4 Answers
I'd like to know a.s.a.p. whether the Inheritance Tax threshold in respect of my father's recent death is likely to be �300,000 or �600,000. I am confused because I cannot seem to get my head round how Inheritance Tax works! My mother died 16 years ago and her Will ensured that all her assets passed to my father. No inheritance Tax was payable on her death. At the time of my father's death he owned his house but I don't know whether, while my mother was alive, they owned the house jointly or not, (my mother's last Will was made before the house was bought and so makes no special mention of the house) but perhaps this makes no difference? I'd be most grateful for any enlightenment, please.


1 to 4 of 4rss feed

Best Answer

No best answer has yet been selected by Robert G. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
It will be �600,000.

When your mother died all her assets went to your father - under spousal exemption there was no IHT.

As no assets went anywhere else, none of her IHT allowance was used up - therefore 100% of it is available to use now.

The past ownership of the house is irrelevant.
Question Author
That's what I hoped to hear. Thanks a lot for your help.
can i ask a stupid question? is the IHT in England different from Scotland. I thought the IHT threshold in Scotland was �1m?
No difference in Scotland that I know of.

Maybe when the Tories take control of the Scottish Assembly.......

1 to 4 of 4rss feed

Do you know the answer?

Inheritance Tax after second parent dies

Answer Question >>

Related Questions