2 articles tagged with Iht Exemption.
Parents can gift £5,000, grandparents £2,500 and anyone else £1,000 to a couple getting married completely free of Inheritance Tax — on top of the normal annual exemption. Here's exactly how the wedding gift exemption works and how to combine it with other allowances.
Gifts from surplus income leave your estate immediately with no seven-year wait. The normal expenditure out of income IHT exemption has no annual cap -- here is how it works.