My parents sold their house in Oct 2016. Sadly between exchange and completion, my father died in late Sept 2016. In my fathers will, everything passed to my mother so there was no IHT liability. In Dec 2016, my mother purchased a flat which she still owns.
From what I understand, the basic IHT threshold on my mothers estate is £650,000.
There is also an additional threshold if my mother bequeaths her flat to her direct descendants eg me, my children etc. In this tax year (2018-19), the additional threshold is £125,000 giving a total of £775,000.
Is there also a second additional threshold available for my father which would increase the total to £900,000?
Thanks
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