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Use your family company and pensions to reduce IHT

Passing your wealth to the next generation tax efficiently can be tricky, especially as you must survive seven years for gifts to fully escape inheritance tax (IHT). How can putting family members on the payroll of your business help? More...


How to make IHT-effective gifts but keep your money

You’ve sold your business for a big pot of cash. If you die, a large chunk will be lost in IHT. To avoid this you could make gifts to your family, but you want to be sure you keep enough for your old age. Is there a scheme to suit both aims? More...


Record keeping - the vital element to saving IHT

Giving away your wealth is the simplest way to reduce the inheritance tax (IHT) bill on your estate. But what records should you keep now to ensure that when the time comes it’s easy for your executors to prove that the gifts are exempt? More...


Gifts - two tax breaks for the price of one

Naturally, you’ll want to pass your wealth on to your kids, but simply piling money into savings while they are under 18 comes with nasty tax consequences. Conversely, one type of gift actually comes with tax perks; what is it? More...


Wills for children?

All the advantages of your highly efficient estate planning could be lost if young beneficiaries die prematurely. This major pitfall is often overlooked; what steps can you take to avoid it? More...


When is a gift not a gift for IHT?

The Taxman allows some scope for you to pass your wealth on to the next generation. However, Inheritance Tax (IHT) exemptions come with some tricky conditions. But there’s a little known tax break that’s easy to use; what is it? More...


IHT-efficient family

Tax legislation contains some complex rules intended to stop you avoiding tax by shifting income or assets to your family. But there’s one area in which this is positively encouraged. What is it? More...


Making gifts in the right order

Most people have heard of the Inheritance Tax (IHT) seven-year rule, but few have heard of the 14-year rule, yet it could land your estate with a large IHT bill that leaves your beneficiaries out of pocket. When can it apply? More...


Making good IHT use of your income

You know that to save your beneficiaries from paying IHT it’s important to plan ahead. You can give away £3,000 every year without it creating a tax problem. But is there a way to give more and still get one over the Taxman? More...


A time for gifts

Each tax year you get an allowance that enables you to permanently move money out of reach of the Taxman’s Inheritance Tax regime. As it’s now the last quarter of the 2006/7 tax year what should you be doing? More...
Last updated: 25.02.2020

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