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The £500k (strictly £175k house, £325k anything) house thing is newish, 2017 I think. £325k sounds ok, £500k a bit high, then you double it for a couple and it’s nuts.
Hefty-
double it for a couple
Is that really what happens? but once one half of the couple dies, you're left with one person, so shouldn't it just be the same limits for inheriting from that one person? It doesn't matter that they were once married. (I'm not disupting, just seems weird. Adding together works if they both die at the same time. I supposed there could be a certain time buffer like if they died in the same month or something... could get complicated.)
hoefla
And those thresholds are transferred to the spouse, so it’s effectively a max of £1m untaxed for a set of parents.
It’s a weirdly high threshold…