How does inheritance tax work in the UK?
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OK I know there is a 325,000 UKP tax free limit on inheritance tax, but say my father dies before my mother and he wants here to inherit everything does that mean when my mother dies and leaves their joint inheritance to me and my brother do we have a single or a double limit of 325,000 UKP? If not should we persuade our parents to go to the expense of setting up a trust?
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Answer:
First spouses exemption is rolled over to second death so survivor will get £650k.
Chris C at Yahoo! Answers Visit the source
Other answers
it does not work it gets everyone else to work and then take most of it when you die.
BJ4U
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