Jamie Butterworth
Joined: 9/26/2024
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IHT on gifts when estate is below threshold
Can you please clarify the rule on IHT on gifts if my whole estate is below the £325,000 threshold. For example: Say my whole life savings is £100,000 and I have no property or belongings to leave. If I die tomorrow, my £100,000 goes to my children with no IHT payable. However, if I now gift this £100,000 to my children immediately and I then die say within 2 years, will IHT still be payable on the £97,000 or will it be exempt from any IHT because I am below the threshold in total? This is not a personal issue, it is purely an example to help explain my question.