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Posted Thu, 12 Jan 2023 17:40:14 GMT by Jem
Hi - I'm not sure how the £325,000 inheritance tax threshold works for couples who own property jointly. It seems the threshold is increased to £500,000 for owned property, and no inheritance tax is paid on a transfer from husband to wife Say a couple own a £1m house jointly, and have a total estate valued at £1.5m. If the man dies, the house is passed to his wife with no inheritance tax If the woman then dies, and the estate is passed to her children, what is the inheritance tax threshold? £500,000 plus the man's unused £325,000 threshold = £825,000? So £675,000 is taxable? Thank you
Posted Fri, 13 Jan 2023 09:12:42 GMT by HMRC Admin 19

Please contact the Inheritance Tax team for advice:

Inheritance Tax: general enquiries

Thank you.

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