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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34233
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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Does IHT taper relief apply to all gifts or only to gifts

Customer Question

Does IHT taper relief apply to all gifts or only to gifts in excess of the IHT threshold and is the tax liability borne by the estate or by the recipient of the gift?
Submitted: 3 years ago.
Category: Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question.
My name is Clare and I will do my best to help you
Every gift made during the seven years prior to death has the appropriate taper relief applied.
Inheritance Tax is payable by the Estate and not the recipient UNLESS the bequest specifies the opposite.
Please ask if you need further details
Clare