by admin | Jan 16, 2025 | Inheritance Tax |
Inheritance Tax (IHT) impacts estates over £325,000, with rates of 40% on death and 20% on certain gifts. A 36% reduced rate applies if 10% of the estate is left to charity. Executors must value estates and may need to file tax returns for the deceased and their...
by admin | Jan 2, 2025 | Inheritance Tax |
Inheritance Tax nil-rate bands remain frozen until April 2030. Learn how this affects estates, the residence nil-rate band, and planning opportunities to maximise tax-free inheritance for loved ones. The Inheritance Tax (IHT) nil-rate bands have been frozen for a...
by admin | Dec 12, 2024 | Inheritance Tax |
Married couples and civil partners may be able to pass on up to £1 million of their estate tax-free with the Residence Nil Rate Band. Claiming this transferable allowance could secure your family home for future generations. Make sure your estate planning...
by admin | Nov 28, 2024 | Inheritance Tax |
There are specific rules regarding the liability to Inheritance Tax (IHT) on gifts made during a person's lifetime. In most cases, gifts made during a person’s life are not taxed at the time they are given. These lifetime gifts are referred to as...
by admin | Nov 21, 2024 | Inheritance Tax |
A trust is an obligation that binds a trustee, an individual or a company, to deal with assets such as land, money and shares and which form part of the trust. The person who places assets into a trust is known as a settlor and the trust is for the benefit of one or...
by admin | Nov 7, 2024 | Inheritance Tax |
It was announced as part of the Budget measures that the government will reform these reliefs from 6 April 2026. The existing 100% rates of relief will be maintained for the first £1 million of combined agricultural and business property. The rate of relief will...
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