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 owner. This exemption applies under a
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 not subject to tax at the time they are
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 of Inheritance Tax (IHT) from April
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 entrusted with managing assets such as land,
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 person’s main residence is passed to a
Before probate begins, you must estimate the estate’s value to see if Inheritance Tax applies. This includes valuing the deceased person’s money, property and belongings in order to determine if Inheritance Tax (IHT) is