P Protocol Registered User Messages 4,660 25 Sep 2022 #1 Scenario Person inherits house from aunt 10 years ago approx. Category B allowance used up, CAT paid on balance. Now, person inherits from another aunt. The group B allowance is higher now. Can the difference in the category B allowances be claimed?
Scenario Person inherits house from aunt 10 years ago approx. Category B allowance used up, CAT paid on balance. Now, person inherits from another aunt. The group B allowance is higher now. Can the difference in the category B allowances be claimed?
T The Horseman Registered User Messages 724 26 Sep 2022 #2 Protocol said: Scenario Person inherits house from aunt 10 years ago approx. Category B allowance used up, CAT paid on balance. Now, person inherits from another aunt. The group B allowance is higher now. Can the difference in the category B allowances be claimed? Click to expand... I would have thought it is the threshold applicable at the time of inheritance so you can avail of the "unused allowance" on the most recent inheritance.
Protocol said: Scenario Person inherits house from aunt 10 years ago approx. Category B allowance used up, CAT paid on balance. Now, person inherits from another aunt. The group B allowance is higher now. Can the difference in the category B allowances be claimed? Click to expand... I would have thought it is the threshold applicable at the time of inheritance so you can avail of the "unused allowance" on the most recent inheritance.
J jpd Registered User Messages 4,206 26 Sep 2022 #3 Yes, it is cumulative on all inheritences and gifts since 5 Dec 1991