Not now, but it needs to be remembered, and if she dies within 7 years, it may need to be listed on the inheritance tax paperwork.
The simple answer is:
You add up the value of her estate at death (not just the money in the bank but also the value of all her assets including personal possessions, investments, her house if she owns it, minus debts and funeral expenses), add any major gifts she made within the last 7 years, and see how much there is. If it's less than £255k (for 2003-04, the figure is revised annually) then there will be no inheritance tax to pay. If more, there will be 40% IHT to pay on the excess.
A more complicated answer applies where there have been major gifts within the 7 years prior to death which individually or in aggregate exceed £255k.
If the sum is small enough, and the remaining estate negligible, there is no tax to avoid anyway.
Make sure the estate is worth less than £255k at death. If necessary, persuade her to gift you the excess now, and make sure she stays alive for 7 years.
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