Category: Inheritance Tax

If a permanent home (domicile) is in the UK then any foreign situated property owned at date of death will be chargeable to Inheritance Tax.... Continue reading

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... Continue reading

There is an annual Inheritance Tax exemption of £3,000 for gifts. This exemption can also be carried forward to the following tax year if not... Continue reading

If you inherit property, money or shares you are usually not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT)... Continue reading

Most gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially... Continue reading

The Inheritance Tax rules can be difficult to fathom when an expat or another person with connections to the UK living outside the country dies.... Continue reading

New rules were introduced by the Government in 2015 that allow for the spouse or civil partner of a deceased ISA saver to benefit from... Continue reading

Business Property Relief (BPR) is an attractive tax relief for taxpayers with business interests, offering either 50% or 100% relief from Inheritance Tax (IHT) on... Continue reading

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... Continue reading