Gifts out of disposable income
There is an annual Inheritance Tax exemption of £3,000 for gifts. This exemption can also be carried forward to the following tax year...
13 Feb
Inheritance Tax
Category Archives: Inheritance Tax
06 Feb
Inheritance Tax
Will you pay tax on your inheritance?
If you inherit property, money or shares you are usually not liable to pay tax on the inheritance. This is because any Inheritance...
23 Jan
Inheritance Tax
Lifetime transfers where estate of another individual is increased
Most gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known...
28 Nov
Inheritance Tax
Inheritance Tax if you live abroad
The Inheritance Tax rules can be difficult to fathom when an expat or another person with connections to the UK living outside the...
15 Nov
Inheritance Tax
ISAs and Inheritance Tax
New rules were introduced by the Government in 2015 that allow for the spouse or civil partner of a deceased ISA saver to...
15 Nov
Inheritance Tax
Holiday let property and Business Property Relief
Business Property Relief (BPR) is an attractive tax relief for taxpayers with business interests, offering either 50% or 100% relief from Inheritance Tax...
18 Oct
Inheritance Tax
Tapering of residence nil rate band
The Inheritance Tax main residence nil-rate band (RNRB) came into effect on 6 April 2017. The RNRB is a transferable allowance for married...
05 Sep
Inheritance Tax
Make a claim on an estate
There are special intestacy rules that govern how assets are divided if you die without making a will. If this happens your assets...
29 Aug
Inheritance Tax
IHT Disclosure of Tax Avoidance Schemes from April 2018
The Disclosure of Tax Avoidance Schemes (DOTAS) legislation, targets taxpayers who implement listed tax avoidance schemes as well as the promoters of tax...
06 Jun
Inheritance Tax
Gifts with strings attached
Most gifts made during a person's lifetime are not subject to tax at the time of the gift. The lifetime transfers are known...