Mark McLaughlin warns that it is not necessarily straightforward to ascertain how much money in a joint account belongs to each account holder for inheritance tax purposes.
When it comes to working out the potential inheritance tax (IHT) liability on an individual's estate, it might be assumed that funds in a joint account belong equally to the joint account holders (e.g., mother and adult son).
This might actually be the case – but not automatically so. As with many other questions in tax, the answer is: it depends.
This article considers the IHT treatment of joint accounts in,
