Question on Inheritance Tax

yuridwyer

Hi all, hoping someone may be able to answer this question. I'm going to receive an inheritance of approx 20k from my late uncle, Category B on revenue's website, so under the threshold of 32500. Years ago though my dad (my uncle's brother) gave me 50k to help me buy a house, obviously my Dad is in Category A. My question is, although my Dad is in Category A, he's also in Category B because he a brother of the disponer (my late uncle), so does that mean I pay 33% tax on the money above the Group B threshold (20000+50000)- 32500, or does the fact that my Dad is in Category A override the fact he's also in Category B? Any thoughts would be appreciated, thanks.

La la lopsy

yuridwyer wrote: »

Hi all, hoping someone may be able to answer this question. I'm going to receive an inheritance of approx 20k from my late uncle, Category B on revenue's website, so under the threshold of 32500. Years ago though my dad (my uncle's brother) gave me 50k to help me buy a house, obviously my Dad is in Category A. My question is, although my Dad is in Category A, he's also in Category B because he a brother of the disponer (my late uncle), so does that mean I pay 33% tax on the money above the Group B threshold (20000+50000)- 32500, or does the fact that my Dad is in Category A override the fact he's also in Category B? Any thoughts would be appreciated, thanks.

They are only in one category. Your dad is category A. Uncle in B. No crossover.

yuridwyer

Great, thanks for that

Baby01032012

As above it’s their relationship to you, not to each other that counts. No tax liability here.