Jo Neal

Can Gifts from Income be regular annual gifts or do they have to be regular monthly gifts?

As a test case I have completed the HMRC IHT Calculator to reveal … No IHT to pay…however it does show ..Net qualifying estate value for IHT £X Is this the £amount that would be used to reduce my transferred NRB when my spouse died after me? Also if I made Gifts from Income and by completing IHT403 it showed it followed the rules and no IHT was due from this,..would my surviving spouse need to declare and to pass this info to HMRC?…at what stage? There is no mention of Gifts from income on the IHT Calculator mentioned earlier..