I've googled this but still unsure of answer- a relative is very likely to be offering us £20 to £30k or so in next few weeks.
They are old but still a long way under the IHT thresholds counting all assets ( and we know these ) even if we factor back in the gifts , as their spouses limit wasn't used at all when they died
If IHT isn't due or payable at the point of them passing - even allowing for factoring back in the gifts - would the gifts still be subject to IHT? I would have thought not , but all articles point to the same subjects of 7 years, £3k limits annually and IHT-
I do understand the different scenarios with deprivation of assets though which is separate thing , although as it stands they are fit and well , no care needs etc and have money in assets for quite a lot of years care if needed be it at home or otherwise ( mid 80s)
Also do these gifts count towards income tax due? It doesn't seem as if they do on googling.