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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 AvatarTax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • July 18, 2020 at 12:15 am #576943
    AvatarAverageAndy
    Member

    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
    AvatarTax Tutor
    Member

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

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