The usual advice is that potential inheritance tax (IHT) payable on gifts starts reducing (tapering) once three years have elapsed, and after seven the gift is IHT free. However, the three-year
deadline is often an illusion. Why?
Published 27.06.2023
You want to reduce the potential inheritance tax (IHT) on your estate. A friend has suggested transferring ownership of your home to your children. HMRC says this won’t work if you still live in it.
If that’s correct is there a way to legitimately dodge the rule?
Published 28.07.2023
Your will has been drafted in a tax-efficient way, but what if your relatives haven’t done the same and landed you with a big tax bill? You’ve heard that a deed of variation could save the day. What
are they and how do they work?
Published 09.04.2008
A recent health scare has prompted you to consider how to reduce the inheritance tax bill your beneficiaries might face if the worst happened to you. What gifts or transfers can you make to
immediately reduce IHT on your estate?
Published 28.04.2022
Life insurance has various uses. For example, you may have a policy to cover Inheritance Tax (IHT) so that your beneficiaries won’t need to break up the family company. But as IHT rules have changed,
should you review your policy?
Published 03.03.2010
Doesn’t everything pass tax-free to your spouse when you die? If so, making a will won’t make any difference to your estate. However, there is a hidden tax charge than can be avoided by using a will.
What’s involved?
Published 25.04.2007
Your father left the whole of his estate, mainly consisting of his share in their home, to your mother in his will. As a result there will be a big inheritance tax bill waiting when she dies. What
steps can you take to reduce it?
Published 26.11.2021
As a director, a large part of your estate might rest in the value of your company shares. And when drawing up your will it might seem the obvious thing to leave these to your spouse, but will this
play straight into the Taxman’s hands?
Published 24.11.2010
When you transfer ownership of your family company, as long as conditions are met, special tax breaks apply so that tax isn’t triggered. It’s vital your family understands these or the tax breaks can
be lost. What does it need to know?
Published 25.11.2014
Directors who have taken out life assurance to financially protect their fellow shareholders in the event of their early death might inadvertently have lumbered themselves with a tax bill. What steps
can you take to avoid this trap?
Published 26.10.2012