I've just been reading IHT 206 (the notes for filling in IHT 205), particularly pertaining to £3000 limit on Gifts out of income...
‘exemption for gifts made out of income’ – for deaths on or after 1 March 2011 you can only deduct this exemption if the gifts total is less than £3,000 for each tax year.
However I thought that provided your income exceeded expenditure you were able to make use of this difference by making gifts that could well be in excess of £3000,and these would be IHT exempt.
Where on this form can I enter this information, and ensure exemption is applied?
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