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 19.11.2021
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 19.04.2023
You plan to save Inheritance Tax (IHT) by giving your holiday home to your children but you still want to use it sometimes. You’ve been advised that if you do, the Taxman will still treat it as
yours. Is there a cunning plan to foil him?
Published 20.11.2008
Making gifts, especially sizeable ones, usually reduces the potential inheritance tax bill on your estate as long as you survive seven years. But tricky rules can mean this won’t always be achieved.
What traps should you look out for?
Published 20.04.2017
The Inheritance Tax (IHT) nil rate band remains frozen, bringing more estates into the Taxman’s grasp. Meanwhile, house prices are edging up again increasing the potential IHT bill for many. What
steps can you take to avoid this trap?
Published 18.03.2011
A director shareholder is retiring and his company is being liquidated. He’s suggested to the other shareholders (family members) that the proceeds are used to buy a holiday home they can all use.
What’s the inheritance tax (IHT) position?
Published 05.02.2019
For a few years you’ve owned a seaside apartment as a holiday getaway. You’re now trying to reduce your estate to save inheritance tax. Can you keep the apartment for your use while shifting the
value out of your estate?
Published 30.09.2016
Most people have heard of the Inheritance Tax (IHT) seven-year rule, but few have heard of the 14-year rule, yet it could land your estate with a large IHT bill that leaves your beneficiaries out of
pocket. When can it apply?
Published 14.04.2010
The press currently seem to be fixated on the rights and wrongs of inheritance tax (IHT). One of their latest claims is that older people can use a mortgage to make use of a “loophole” in the IHT
rules. Is this something you should consider?
Published 27.06.2023