Wedding gift cash and IHT

I understand that I can give £5000 to a child free of Inheritance Tax. Does my wife also have the same allowance, making a total of £10,000?

Hi,

You can give £3000 per year each without any Inheritance Tax implications. Anything over this would form part of the estate if you were to die within 7 years.

Thank you.

I'm sorry - perhaps I wasn't clear. I understand that in addition to the annual £3000 allowance, which each person has, a parent can also give £5000 as a wedding present free of IHT to their child? Can each parent give £5000 making a total wedding gift of £10,000?

Hi Trevor B,
Yes, as you are both due the allowance.
Further guidance is here:
How Inheritance Tax works: thresholds, rules and allowances
Thank you.