The surprising answer to this question is usually no. This is because inheritance tax (IHT) is usually 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 recent death of the comedian, Sir Ken Dodd, aged 90, would not usually be the topic of one of our weekly articles. However, the comedian managed to have one last laugh by marrying his partner of 40 years just days before his death.
New inheritance tax rules for passing on the family home start on 6 April 2017 and many people have a New Year’s Resolution to either make a Will or update…
Budget 2016 announced a new “Lifetime ISA” that will be available to those aged between 18 and 40 from 6 April 2017. The Government will add 25% to the amount…
Inheritance Tax Planning before 6th April 2016 Have you made use of your annual Inheritance Tax (IHT) exemptions? The annual exemption is £3,000 per donor (plus last year’s £3,000 exemption…
From 6 April 2017 an additional Inheritance Tax (IHT) Residence Nil Rate Band (RNRB) starts being phased in to enable individuals to pass on their family home to direct descendants….
Inheritance Tax & The Family Home As mentioned last month the Chancellor has confirmed the introduction of an additional inheritance allowance that will be available in addition to the current…
Further detail has emerged (in a leak to the Guardian newspaper) concerning a new Inheritance Tax (IHT) allowance announced in the Conservative Party election manifesto to set against the value…
