Inheritance Tax on a Deceased Person’s Gift

Question

My mother gave my daughter £5,000 on 1 May 2016. She had not made any other gifts in previous years. Unfortunately, my mother passed away on 1 September 2020. How much of the gift she gave to her granddaughter is chargeable to inheritance tax?

 

Answer

Since your mother did not make any other gifts, the gift she made to your daughter will be covered by inheritance tax annual exemptions – £3,000 for 2016/17 plus her unused exemption brought forward from 2015/16 (£3,000 available).

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