The earlier you plan your estate, the better. For example, if you die seven years after giving away money, that amount sits outside of your estate for inheritance tax purposes.
With more than 9 million people receiving 80% of their wages and with the threat of future redundancies, your children may turn to you for help. If you are thinking of giving money to your children, here’s a handy guide to help you avoid the pitfalls of inheritance tax (IHT). One-off gift You can give […]
Are you thinking about gifting your loved ones this Christmas? With the right advice, you can make these gifts tax exempt. This ensures that if you die within the next seven years, the gifts will not be considered part of your estate – and therefore will not be subject to Inheritance Tax
The costs of administering an estate are set to soar from next month when probate fees will increase by up to 3,000 per cent. Currently, applications cost a standard fee of £215 which reduces to £155 if using a solicitor. Where the estate is worth less than £5,000, the cost is zero. For estates that […]
Giving gifts to your loved ones can be an excellent way of reducing the size of your estate, and therefore your Inheritance Tax liabilities. But what about Christmas gifts? Are these tax exempt, or should you tread carefully when it comes to treating your loved ones this holiday season? Tax exempt gifts Unfortunately, there is […]