Hi...I am wondering if somebody can help me. My grandmother passed away last year. In her will she requesetd that proceeds of house etc...were left to my mother. My mother however sadly passed away before her. It did state in my grandmother's will that should any of her children pre-decease her that the proceeds then be distributed to her grandchildren i.e. myself and my siblings. My question now is whether the inheritance is considered to have come from our mother or from our grandmother. It makes a difference because of the thresholds i.e. if we are considered to have inheritied from our mother we won't we liable to pay inheritance tax because amount does not reach threshold but if we inherited from our grandmother then we are liable for tax because amount inherited is above threshold.
All advice greatly appreciated. Many thanks.
All advice greatly appreciated. Many thanks.