Scenario:
Husband...investments = £340k
Wife........Investments = £330k
House Value.............. = £375k.......Tenants in Common....... = £187k each.
Hence...Husband assets = £527k. Wife assets = £517k
April 2018.. Husband gifts £25k to each of Two children...total gifted £50k.......leaving assets of £477k
Wife. gifts £25k to each of Two children...total gifted £50k.......leaving assets of £467k
June 2018.Husband dies leaving his estate assets to Wife............Question: Is IHT due from Children,if so,do children pay,or does Husbands estate pay......before/after estate settled?
Dec 2018..Wife dies leaving whole estate assets to children/.........Question: Do children have to pay IHT before estate is settled,or can it be paid by estate when settled?
At what stage does IHT have to be paid?...........what amount of IHT needs to be paid at each death?....by whom?
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