Inheritance Tax

Who pays Inheritance Tax?

Inheritance Tax (IHT) is commonly collected on a person’s estate when they die but can also be payable

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Inheritance Tax Business Relief

There are a number of reliefs available that can reduce liability to IHT if you inherit the estate of

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IHT – settled and excluded property

A trust is an obligation that binds a trustee, an individual or a company, to deal with the assets such

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The 7-year rule

Most gifts made during a person’s lifetime are not subject to Inheritance Tax at the time of the gift.

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IHT immediately chargeable transfers

There are special rules concerning the liability to IHT on a transfer made during a person’s lifetime.

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OTS recommended changes to IHT

The Financial Secretary to the Treasury has written to the Office of Tax Simplification (OTS) to confirm

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Inheritance Tax – tax-free gifts

We wanted to remind our readers of the Inheritance Tax (IHT) implications of making cash gifts during the

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IHT Main Residence Nil Rate Band

The Inheritance Tax residence nil-rate band (RNRB) is a transferable allowance for married couples and

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Definition of a potentially exempt transfer

The majority of gifts made during a person’s life are not subject to tax at the time of the gift. These

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Video-witnessed wills

The Ministry of Justice (MoJ) has confirmed that video witnessed wills in England and Wales will be made

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Who pays Inheritance Tax?

Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a

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Trusts and CGT

A trust is an obligation that binds a trustee, an individual or a company to deal with the assets such as

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