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Sam, Accountant
Category: Tax
Satisfied Customers: 7544
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I am really worried My mother recently died and has help

Customer Question

Hi I am looking for some advise my Mother died two weeks ago and in the last 3/4 years she has helped me financially buying a house and renovating it as well as helping me and other family members financially. It never occurred to us that if she died there was a7 year rule. I know of it now  because a friend mentioned it. My father is still alive and they were married and the the money was from their joint account will the money she gave me be liable for tax regards Sam

Submitted: 2 years ago.
Category: Tax
Expert: replied 2 years ago.

Hello and welcome to the site. Thank you for your question.

Do you know what her estate was worth when she passed away?
Was the help from both your mother and father (as it was out of joint account)?
What was the gift worth in money terms?
Do you know what she gifted every year in the last 3/4 years?

Many thanks