Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hello, I am Keith, one of the experts on Just Answer, and happy to help you with your question.
ok, i have already submitted my question, do you have that
what more information do you need please, thanks
Please be so kind as to stop asking supplementary questions for the present. You have lost my reply twice already.
You are correct that any unused allowance of your Father's can be added too your mother's 325K and any assets over that amount will be subject to Inheritance Tax (IHT) at 40%. If bequests of a charitable nature exceed 10% of the estate then the rate falls to 36%. Any tax free allowance is infalted by charitable bequests.
Please be so kind as to rate me before you leave the Just Answer site.
would the allowance of my fathers unused inheritance tax be at the year he died 1995 or as at now? i am getting conflicting answers. many thanks
Yes, the year in which he died.
Thank you for your support.