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when refering to kaplan’s chapter on IHT, the part about Marriage Exemption gives a condition for an amount of 2,500 pounds exemption for the gift given by a grandparent or remoter ancestor
I wonder what’s the definition of a “REMOTE ANCESTOR”?
Does an uncle count for a remote ancestor, cuase there’s a question I did once which only gives 1000 pounds of exemption for wedding gift given by an uncle(the 1000 amount is the relief for ANYONE ELSE’s wedding gift)……..I’ll really appreciate any help!
hi,
i suggest you to check examiner’s article on this subject.
that’s how he explains it :
• £5,000 if the gift if made a by a parent.
• £2,500 if the gift is made by a grandparent or by one of the couple
getting married to the other.
• £1,000 if the gift is made by anyone else.link to examiner’s article :
https://www2.accaglobal.com/pubs/students/publications/student_accountant/archive/sa_oct10_IHT_F6_UK.pdf
btw, it has part 2, so check accaglobal for it.remote ansestor might mean grand grand parent and further. But i never saw those remote ansestors in any exam question.
good luck with exam!
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