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Posted Fri, 09 Aug 2024 21:36:49 GMT by SRich
After getting a windfall from a company sale, I am giving money to numerous family and friends, such that the total exceeds the Nil Rate Band for Inheritance Tax. If I die within 7 years, I read that HMRC would by default consider some of the recipients (the ones paid later in the list) to be liable for IHT. This would be very unfair between my different relatives, but also not easy to collect since many of them are foreign nationals and there would be no jurisdiction. Is there a way in my Will to designate my estate to pay all the IHT owing so HMRC never try to contact the people I gave money to?
Posted Mon, 12 Aug 2024 08:04:01 GMT by HMRC Admin 19 Response
Hi,

Please contact the Inheritance Tax team for advice.

Inheritance Tax: general enquiries

Thank you.

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