Cash Gifts and Tax

If cash gifts have been received from a parent prior to them passing away and their estate is under the inheritance tax threshold - do the gifts have to be declared and is it the responsibility of the individuals who received them or the person dealing with the estate (there is no executor as there was no will)?

Hi,

Please contact the Inheritance Tax team for advice:

Inheritance Tax: general enquiries

Thank you.

Hi Thieving Sisters,
If the gifts were made within 7 years of them passing, yes they need to be included as part of the estate for Inheritance Tax.
The executor should be made aware of this.
Please see:
How Inheritance Tax works: thresholds, rules and allowances
Thank you.