What are the available IHT exemptions?

  • £3,000 yearly exemption.  This can be rolled over to the following year if it is not used, to a maximum of £6,000 per individual.
  • You can gift up to £250 to any number of individuals per tax year.  This can’t be used in conjunction with any other exemption.
  • Gifts can be given on marriage up to:

                   -£5,000 from each parent

                   -£2,500 from each remoter relative eg grandparent

-£1,000 from any other individual

  • The normal expenditure out of income exemption.
  • Gifts to a UK domiciled spouse/civil partner are also exempt.