Married couples and civil partners are allowed to pass their possessions and assets to each other tax-free and, since October 2007, the surviving partner is now allowed to use both tax-free allowances (providing one wasn't used at the first death).
Gifts made within the last seven years are not included in the calculations but may be liable to IHT on a sliding scale.
Calculations based upon the current understanding of HM Revenue & Customs practices and the values shown are dependent upon individual circumstances.
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