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It is my understanding that for IHT purposes 150K of property value can be added to the current IHT threshold of 325K taking the effective transferable asset threshold before tax to 475K.
What I am unclear on, is does that property need to be formally transferred and registered to the son/daughter before they are able to sell it ? I can't find any note anywhere but see the odd reference to Capital Gains Tax (presumable if immediately or sold soon after)
What I am unclear on, is does that property need to be formally transferred and registered to the son/daughter before they are able to sell it ? I can't find any note anywhere but see the odd reference to Capital Gains Tax (presumable if immediately or sold soon after)
