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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15979
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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My Dad died last year. My Mum died this year. They jointly

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My Dad died last year. My Mum died this year. They jointly joined their property. Their total assets equal £365,000.00 approx.
My son says that because my Mum died a widow. The total Inheritance Tax level would be £650,000.00 and I wouldn't have to pay any tax.
I'm confused. I thought it was £325,000.00.

If one spouse leaves everything they own to the surviving spouse, the spouse who dies first doesn't use their Inheritance Tax nil-rate band of £325,000 as intra-spouse transfers and legacies are exempt from IHT. Therefore, the executors of the spouse who dies second are able to make a claim for the transfer of the unused nil-rate band which potentially doubles the nil-rate band of the second spouse to die to £650,000. You can read about that here.

I hope this helps but let me know if you have any further questions.
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