Delayed ownership and IHT
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kyle
Apprentice
Joined: 06 Sep 2007
Posts: 4
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 Posted: 02/06/08 - 08:20 Post subject: |
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| Hello my friends! I have inherited a part of my mother's house after she has passed away. After that happened, I sadly found myself in a complicated battle with my sister, who wanted to sell the place. Now the matter has been resolved in court. The question is about IHT. Will the tax apply to today's value or to the value of the property when my mother passed away. |
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angelle
Apprentice
Joined: 06 Jan 2006
Posts: 11
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| Posted: 03/07/08 - 03:36 Post subject: |
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| The tax will apply to the value of the propery at the time of death of the perrson who has left it to you. In this case you are not mentioning when that was. But I have heard of cases where such or other court battles have been going on for ass long as eight years, in which case their is quite a difference!! |
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