A spouse has been left the totality of her late husband’s estate and as a consequence there is no liability for IHT. However her husband, well within the 7 years prior to his death, bought their son a property at a cost of £250,000.
Does this mean:
a) That the wife has an immediate liability of IHT on the £250,000 which she must pay from her inheritance, or
b) That on her death the wife’s double IHT allowance will be reduced by £250,000, or
c) That the “no tax between spouses rule” will eliminate all liabilities relating to the £250,000
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