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Posted Tue, 21 Mar 2023 12:53:43 GMT by Peter Marshall
A question re gifts out of income. IHTM14255 - '...allowing for all gifts forming part of their normal expenditure, the transferor must have been left with enough income to maintain their usual standard of living.' Should capital expenditure be excluded from calculating 'enough income? Examples of capital expenditure could be building a conservatory, or significant maintenance costs such as expensive roof repairs or replacing drains. Thank you.
Posted Fri, 24 Mar 2023 14:24:55 GMT by HMRC Admin 20
Hi Peter Marshall,

You will need to contact IHT on 0300 123 1072 for clarification.

Thank you. 

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