Question
Calculate the Inheritance Tax for Tania, she died on 32st March 2023. Tania lived on the South coast of England. Her husband died in 2015
Calculate the Inheritance Tax for Tania, she died on 32st March 2023.
Tania lived on the South coast of England. Her husband died in 2015 and he had made no gifts during his lifetime. Tania made a gift to her son of 500,000 in March 2018 and 300,000 to her daughter in March 2019. In both 2017/18 and 2018/19 she had utilised her annual exemption prior to these gifts. Tanias estate comprised: 3-bedroom house worth 800,000, Furniture, chattels, and jewellery 50,000, AIM investments 50,000 (owned for more than 2 years), and Other investments not AIM 100,000. The estate is to be shared equally by her son and daughter.
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