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Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.
Your mum would inherit his tax free allowance, in which tax year did he die?
Right, thsi is quite complex and I am a diabetic so must take my insulin and eat, but should be back within the hour to answer your question fully.
The IHT threshold was 325K in 2010. as your Mother left the family home to children the tax free element is enhamced and now stands at 425K so with your Dad's allowance her estate has 750K available before Inheritance tax (IHT) kicks in. 425K + 250K = 675K so no IHT will be due on her estate. Simple, as the meerkat in the TV advert would say.
I do hope that I have been able to set your mind at rest on this matter.
That's the claim form for inheriting unused tax free portions so it will be needed for your father's estate.
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