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Inheritance Tax
November 2019
Inheritance Tax
Inheritance Tax
November 2019
  Passing assets efficiently to the next generation No one wants to think about their hard-earned wealth going to waste after they die. It’s up to you to decide who gets what. The people who could benefit from your estate include your partner or spouse, children and other family members, friends, and charities. Family dynamics are complex, but they tend to be the main beneficiaries. Read full article
Inheritance Tax
October 2019
Residence nil-rate band
Inheritance Tax
October 2019
  How to apply the additional threshold The Inheritance Tax residence nil-rate band (RNRB) came into effect on 6 April 2017. The RNRB provides an additional nil-rate band where an individual dies on or after 6 April 2017, owning a residence which they leave to direct descendants. During the 2019/20 tax year, the maximum RNRB available is £150,000. This rises in £175,000 in 2020/21, after which it will be indexed in line with the Consumer Prices Index. Read full article
Inheritance Tax
October 2019
Making financial gifts
Inheritance Tax
October 2019
  Passing on your assets effectively whilst you’re alive Some people like to transfer some of their assets whilst they are alive – these are known as ‘lifetime transfers’. Whilst we are all free to do this whenever we want, it is important to be aware of the potential implications of such gifts with regard to Inheritance Tax. The two main types are potentially exempt transfers (PETs) and chargeable lifetime transfers (CLTs). Read full article
Inheritance Tax
May 2019
Inheritance Tax
Inheritance Tax
May 2019
  No longer something that only affects the very wealthy Inheritance Tax is no longer something that only affects the very wealthy, but the good news is that there are ways to limit the amount of Inheritance Tax your family may potentially face. Read full article