Business Relief for IHT
There are a number of reliefs available that can reduce liability to Inheritance Tax (IHT).
One of these reliefs is known as IHT Business Relief and is a valuable tax relief for
Exempt gifts paid out of income
There is a flexible exemption from IHT for taxpayers who make tax exempt gifts and payments that are paid as normal expenditure out of income. With proper planning this can be a
Transferring nil rate band for Inheritance Tax
The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a
Valuing an estate for IHT purposes
Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The rate of Inheritance Tax
Making a claim on an unclaimed estate
There are special intestacy rules that govern how assets are divided if you die without making a will. If this happens your assets are passed on to family members in accordance
Have you utilised 2022-23 IHT allowances and reliefs?
We wanted to remind you of the Inheritance Tax (IHT) implications of making cash gifts during the current tax 2022-23 tax year that will end on 5 April 2023.
You can give away up
Exempt transfers between siblings
Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The current IHT nil rate band is
IHT – estimating an estate’s value
Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The rate of Inheritance Tax
Tax on property you inherit
If you inherit property, you are usually not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the deceased’s estate before
Gifts paid out of disposable income
It is possible for wealthier taxpayers to make tax exempt gifts and payments that are funded as normal expenditure out of income. This is a very flexible exemption from IHT as