What are the available IHT exemptions?19 March 2015
- £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.