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Where Taxpayers and Advisers Meet

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by ontheedge
Fri May 18, 2007 4:08 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: gift of money - PET??
Replies: 1
Views: 925

My mother in law has a substantial estate and wants to give her 2 sons a large sum of money, say £200K each. Am I correct in thinking that this would be a potentially exempt transfer ( PET) and providing she lives for 7 years there would be no tax liability for her sons?
by ontheedge
Tue Nov 16, 2004 7:39 am
Forum: Tax Investigations and Enquiries
Topic: IR Powers
Replies: 1
Views: 2588

Can the Revenue prosecute you if they deem that you have been fraudulent and/ or have not declared all earnings for tax ?

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