Is Your Inheritance Tax Plan Putting Your Family at Risk?

[@gigas302]

Oh my, I just found this channel (subscribed) Quick question if I may. My mother is 96, and she's going to be renting her house to us in June 2025, the house is currently being let out by an estate agent and she's currently in a council home and she's rented out to an estate agent for the past 15 years. just last month she's gifted the house to me and my partner for when she's passes, but until then we will be paying her rent, and moving in June next year The property is worth 380k. Whats the safest way around this in the future to avoid any CGT and IHT? Thank you for your work!

[@UK-Property-Tax-Accountants]

Honestly you need to get tax advice. Please do not take advice as though it is good via social media. These videos and posts are only good for awareness purposes and not to be taken as anything else to be on the safe side 🙏

[@gigas302]

@UK-Property-Tax-Accountants Not a problem bud. Thank you for the reply any hoot

[@johnd00e-j9s]

​@@UK-Property-Tax-Accountants Would be great if you could do a video on a scenario similar to this mate.

[@johnd00e-j9s]

​@@gigas302In a similar position, hope simon does a video on this👍🤞

[@liedestroyer2330]

Yes, this is a video on its own. Good question btw

[@garyjames5790]

Great stuff as ever.. thank you

[@UK-Property-Tax-Accountants]

Thank you 🙏 that’s very kind of you 🙏

[@Weho.]

Would they pay IHT if the Gift with reservation was below the IHT allowance? Or is it taxed regardless of the value ?

[@UK-Property-Tax-Accountants]

If the total value of the estate is below the IHT Life, Allowances then no tax will be charged

[@londondisc]

If you gift your house and pay rent to your children I assume they will have to pay tax at their highest marginal tax rates?

[@UK-Property-Tax-Accountants]

Tax on the income they receive will be taxed at their marginal rate, which depends on how much they earn in the year