yod dropper Posted July 11, 2017 Report Share Posted July 11, 2017 The knowledge base of PW never ceases to surprise me so.... Currently the inheritance tax threshold can be passed onto a spouse, i.e. £325k + £325k = £650k total (plus the new house allowance). My father died in 1996 so does my mother get the £650k total or does this rule only apply from some date since then. I can't find anything definitive as yet, I'm after fact not speculation so does anybody actually know? Quote Link to comment Share on other sites More sharing options...
walshie Posted July 11, 2017 Report Share Posted July 11, 2017 If this hasn't changed in the last 5 years I know the answer. My Dad died in 1996 also and didn't leave a will as such. When my Mum died in 2011 the solicitor said the 2 thresholds could be added, so I was only liable for anything over £650K.. Quote Link to comment Share on other sites More sharing options...
yod dropper Posted July 11, 2017 Author Report Share Posted July 11, 2017 Many thanks Walshie. I'm not sure what will my Dad left and I don't think there was any thought of minimizing tax at the time. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.