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Exemptions for IHT

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Exemptions for IHT

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Tax Tutor.
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  • July 18, 2020 at 12:15 am #576943
    AverageAndy
    Member
    • Topics: 128
    • Replies: 34
    • ☆☆

    this is regarding Marriage exemption

    sir the 5000pounds marriage exemption is per parent right? means father and mother can together give IHT free sum upto 10,000pounds to their daughter/son upon marriage.

    and similarly grandmother(/father) each can give upto 2500pounds(IHT free sum) to their grandson(/daughter)

    July 20, 2020 at 12:28 pm #577447
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Yes – the exemption is relevant to the individual making the transfer

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