Inheritance Tax

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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IHT exemption for gifts out of income

It is possible for wealthier taxpayers to take advantage of the IHT exemption for gifts and payments that

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10% reduction in Inheritance Tax rate

If your total assets exceed £325,000 then the excess will usually be subject to Inheritance Tax

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IHT tenants in common or joint tenants?

As a general rule, Inheritance Tax (IHT) is collected from a person's estate when they die and can

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Cash gifts this Christmas

We thought it would be useful to remind our readers of the IHT implications of making cash gifts this

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Giving away a home before death

The majority of gifts made during a person's life, including gifting away a home, are not subject to

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Inheritance Tax Agricultural Property Relief

There are a number of reliefs available that can reduce liability to IHT. The most relevant for farmers

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When Inheritance Tax applies to pensions

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

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Life policies and Inheritance Tax

A life policy is a contract with an insurance company. In exchange for premium payments the insurance

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