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
As the 2008/9 tax year ends soon you should be thinking about Inheritance Tax planning. If you don’t take action, more of your wealth could disappear in tax. Here are our top five tips to stop the
Taxman grabbing your cash.
Published 25.03.2009
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
15 years ago the inheritance tax nil rate band was made transferable. This doubled the tax-free amount for many estates. With a little planning some estates could do even better. Might yours be
one of these?
Published 14.06.2022
From 6 April 2017 you’ll have a higher inheritance tax (IHT) allowance if you own residential property which is left to a direct descendant. How much is this new allowance and who is considered to be
a direct descendant?
Published 02.02.2017
You and your partners are transferring your business to a company. This has tax pros and cons. One major drawback is the loss of inheritance tax business property relief (BPR). How can you prevent
this and retain the other benefits of transferring the business?
Published 31.08.2022
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
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
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 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