R
rabbit
Guest
Suppose a grandparent passes away and leave estate valued say 500 k to her child and estate worth say 30 k to that childs child. ( the deceased's grandchild, age 4 ). The middle generation looks after the grandchilds inheritance until the grandchild is the age of 18.
The question is, is tax payable on the 30 k , as it would be if the middle generation inherited 530 k ?
I know the threshold is something like 500k for a parent and 40 k for a grandchild. Thanks in advance for any reply.
The question is, is tax payable on the 30 k , as it would be if the middle generation inherited 530 k ?
I know the threshold is something like 500k for a parent and 40 k for a grandchild. Thanks in advance for any reply.