IHT question

Author
Discussion

Office_Monkey

Original Poster:

1,967 posts

211 months

Monday 27th January 2014
quotequote all
Hi knowledgeable people of PH. Am due to get married next year, and my dad has asked me to find out about IHT implications if he were to pay for part of this and the worst should happen in the following 7 years.

Would there be any tax due if he were to pay the venue directly, HMRC website states that a £5k gift can be made but would this count as a gift?

TIA smile

Office_Monkey

Original Poster:

1,967 posts

211 months

Monday 27th January 2014
quotequote all
Thanks Eric. Would paying the venue directly not have any bearing as in the eyes of HMRC this would still be classed as a gift?

Office_Monkey

Original Poster:

1,967 posts

211 months

Tuesday 28th January 2014
quotequote all
I appreciate you taking the time to answer Eric, especially this time of year. Will let my dad know - he'll have to find some other way of reducing the tax bill.