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inheritance tax

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Personal Inheritance Tax-Saving Ideas

When the first of a married couple or civil partners dies it may not be clear whether their survivor will need any of their unused tax-free allowance later on.

Personal How inheritance tax works

When you die, everything you own – your home, possessions, investments and savings – goes into your estate.

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Personal Summary of main changes to Personal Tax Rules 2010-11

In 2010–11, public finances continue to be dominated by the aftermath of the global financial crisis and recession, with a pressing need to cut government borrowing.

Personal Inheritance Tax - Tax on gifts within seven years before death

Quite separately from tax on your estate, potentially exempt transfers and taxable gifts you made in the last seven years are reassessed on death and tax (or extra tax) may be due on them.

Personal Tax-free Gifts and Potentially Exempt Transfers (PETs)

When considering inheritance tax, if you do have some resources to spare, make as full use as possible of the annual £3,000 exemption, regular gifts out of income and such like.

Updates UK adults wasting £2 billion in inheritance tax

UK taxpayers will waste nearly £2 billion this year due to poor inheritance tax (IHT) planning, according to the annual Tax Action report by unbiased.co.uk.

Business Using business property relief in IHT planning

An area of tax planning that has become increasingly popular in recent years is the use of business property relief (BPR) in the mitigation of inheritance tax (IHT) liabilities.

Personal The perils of intestacy

Dying without a will - ‘intestate’ in legal terminology - means that your estate will pass according to the rules of intestacy.

Personal Grandparents should consider gift plans

By making gifts to their family via gift plans, grandparents can place any growth on the investment outside their estates immediately.