The 7-year gift rule is still available
The 7-year gift rule is still an available option for those making lifetime gifts, offering a way to potentially reduce Inheritance Tax (IHT) liability. Most gifts made during a
Tax on inherited property, money or shares
As a general rule, someone who inherits property, money or shares is not liable to pay tax on the inheritance itself. This is because any Inheritance Tax (IHT) due is normally paid
Changes to Agricultural and Business Property Relief reforms
The government recently announced significant changes to the planned reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR). The threshold for 100% relief
Agricultural and business property relief changes
Agricultural and business property relief changes that were first announced at Autumn Budget 2024 will come into effect from 6 April 2026. These measures will introduce significant
IHT treatment of unused pension funds and death benefits
The 2027 reforms will shift more responsibility to personal representatives, who may need to manage withholding arrangements and settle any IHT before pension benefits are
Inheritance Tax and CGT relief for national heritage assets
Certain buildings, land, works of art, and other objects of national significance may be exempt from Inheritance Tax and Capital Gains Tax (CGT) when they are transferred to a new
Gifts with reservation of benefit
Gifting assets can cut inheritance tax, but traps like “gifts with reservation of benefit” may undo the plan.
The majority of gifts made during a person’s lifetime are
Unused pension funds and IHT from April 2027
From 6 April 2027, new measures first announced in the Autumn Budget 2024 will come into force. These changes will bring most unused pension funds and death benefits into the scope
Trusts and Income Tax
Trustees must manage assets, follow tax rules, and register with HMRC where required.
A trust is a legal arrangement in which a trustee, either an individual or a company, is
Who can claim the IHT residence nil rate band
With the Residence Nil Rate Band (RNRB), families can pass on up to £1 million without IHT
The RNRB is an additional £175,000 Inheritance Tax (IHT) allowance that applies when a