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Help with PETs

arongunninghamarongunningham Member
in Technical stuff

My brain's not working today.

A married couple have an IHT issue and would like to consider gifting £200,000 to their adult child.

I don't believe a joint-PET is a thing. So, in fact, a nomination will need to be made as to who made that gift.

If one of the married couple dies within 7 years, is acceptable to say that the surviving spouse is the one that made the gift (assuming all accounts/assets are joint)?

If not, is it better practice to split the Gift 50/50 to increase the chance that loss of NRB won't occur in this scenario?

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  • OldhandnewhandOldhandnewhand Member

    @arongunningham said:
    My brain's not working today.

    A married couple have an IHT issue and would like to consider gifting £200,000 to their adult child.

    I don't believe a joint-PET is a thing. So, in fact, a nomination will need to be made as to who made that gift.

    If one of the married couple dies within 7 years, is acceptable to say that the surviving spouse is the one that made the gift (assuming all accounts/assets are joint)?

    If not, is it better practice to split the Gift 50/50 to increase the chance that loss of NRB won't occur in this scenario?

    Take a llok at this:
    https://taxinsider.co.uk/1784-Inheritance_Tax_Whose_Money_Is_It.html

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