Inheritance tax as married couple with no children

[thomas anderson]

Hi,

Our solicitor has told us that if I die and leave everything to my wife, she will pay inheritance tax if over the IHT threshhold.

We have 2 houses (1 is holiday home) and savings meaning the estate would be above 2 million.

My reading of gov.uk inheritance tax is that it will not be subject to tax if we leave everything to the surviving partner. Is this correct,

Many thanks,

[maths]

Yes.
Inter spouse transfers in lifetime or death are exempt from IHT irrespective of the amount involved. On death of surviving spouse IHT then falls due.

At that point if aggregate estate exceeds £2 million then the residence nil rate band will be reduced.

[vik2001]

If you say had 800k in yr estate and passed 400k onto say your brother. Then the rest to your wife another 400k. Is the bit that goes to wife free of IHT?