IHT payments hit record high after COVID-19
New statistics released indicate that residents in the United Kingdom paid a record amount in inheritance tax (IHT) back in July this year, after the number of COVID-related deaths spiked […]
HMRC data shows Londoners pay highest IHT bills
The latest data released by Her Majesty’s Revenue and Customs (HMRC) regarding the amount of inheritance tax (IHT) paid by UK residents for the tax year 2018 to 2019 indicates […]
Are you prepared for inheritance tax?
While you might have made long-term financial plans that even factor in retirement, are you prepared for inheritance tax? In the following passages, we’ll take a look at four important […]
How does gift-giving reduce your inheritance tax bill?
Here in the UK, inheritance tax is payable on a person’s estate if its value is above £325,000. If this threshold is exceeded, inheritance tax (IHT) is charged at 40% […]
Survey shows impact of inheritance tax threshold freeze
New research has uncovered that approximately one out every three financial advice clients will feel the effects of frozen inheritance tax (IHT) thresholds.
UK Chancellor urged to hike inheritance tax
An international organisation specialising in intergovernmental economics has advised Chancellor Rishi Sunak that post-pandemic, the current inheritance tax allowances should be amended to raise more money for governments.
How is inheritance tax calculated?
Inheritance Tax (IHT) is defined as tax on a person’s estate, made up of their possessions, property and assets, after they die. While no tax will be due if an […]
Study shows UK residents unprepared for inheritance tax
New research has revealed that many UK families are poorly prepared to cope with inheritance issues including tax bills due to be paid when someone dies.
Why financial planning is critical to cope with inheritance tax
Inheritance tax can sometimes be a complicated and confusing cost to consider, but it doesn’t have to be. With the correct use of wills and expert assistance in estate planning […]
Inheritance tax and probate rules set to change
At present, administrators and executors of estates are required to submit either an IHT400 or IHT205 form to make certain the appropriate procedures are taken, but the government has now […]
