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Search results: 18 article(s) found in topic: Tax and VAT - keyword: Inheritance tax

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ESTATE PLANNING

Helpful changes to inheritance tax

From 6 April 2017 you’ll have a higher inheritance tax (IHT) allowance if you own residential property which is left to a direct descendant. How much is this new allowance and who is considered to be a direct descendant? More...

INHERITANCE TAX

Inheriting the family company tax efficiently

When you transfer ownership of your family company, as long as conditions are met, special tax breaks apply so that tax isn’t triggered. It’s vital your family understands these or the tax breaks can be lost. What does it need to know? More...

ESTATE PLANNING

Intestacy law changes if your assets exceed £250k

On 1 October 2014 intestacy laws - which are the rules that apply when a person dies without leaving a will - underwent some major changes. They affect anybody who has assets exceeding £250,000. What do you need to know? More...

INHERITANCE TAX

Business loans that could cost you extra IHT

In 2013 new rules were introduced to curb inheritance tax (IHT) avoidance. The trouble is they can also reduce the amount of business property relief (BPR) that director shareholders are entitled to. How can you avoid the problem? More...

TAX

Can you use your company as an IHT shelter?

A friend says that on advice from his accountant he transferred most of his personal investments into his company to protect him from inheritance tax (IHT). Is this a potential tax-saving scheme worth considering? More...

EXPENSES

Tax-free late night travel for directors

Your accountant has handed you the firm’s P11Ds to look over before they’re sent to HMRC. Yours includes several taxi fares for journeys home late at night after board meetings. Will you have to pay tax on these? More...

DIRECTORS’ TAX

Life assurance tax trap set to catch directors

Directors who have taken out life assurance to financially protect their fellow shareholders in the event of their early death might inadvertently have lumbered themselves with a tax bill. What steps can you take to avoid this trap? More...

INHERITANCE TAX

Maximising business property relief

Business assets, including unquoted shares, can qualify for 100% relief from Inheritance Tax (IHT). But directors who lend money to their company might lose out on some or all of this. What steps can you take to maximise relief? More...

INHERITANCE TAX

An IHT dodge for family companies

Over the last year the tax treatment of pension death benefits has changed radically. But one type of scheme can still offer an estate planning tax break for directors of family companies. What is it and how does it work? More...

INHERITANCE TAX

IHT and CGT double hit on director’s shares

A recent court case involved a Capital Gains Tax saving scheme on a company buy-out that went wrong. It cost the directors/shareholders £1.3 million in tax. What’s the full story? More...
Last updated: 26.05.2020

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