Transfer of significant cash funds from husband to non-Dom wife
Were he to die within 7 years, we could use the election to get rid of the problem, but I’d like to diagnose the problem properly
My view is that the gift, in the absence of evidence to the contrary, is to be regarded as a 50:50 ownership by way of presumption of advancement
My colleague seems to believe that this is overridden by the standard treatment in s5(2) IHTA, which makes no reference to the concept – electronic searches of the IHT manual don’t help
Can anyone referee between us?
The Fry Group