What the new government means for Inheritance Tax Relief
With the newly elected government likely to bring a very different approach to managing the UK’s finances, Cheshire-based savers and people approaching retirement may be left wondering what that means for inheritance tax planning.
New statistics reveal growing burden of inheritance tax
Inheritance tax receipts in the last financial year rose to £7.5 billion, an increase of 40% on five years ago, according to figures issued by
Inheritance Tax Planning
Inheritance Tax (IHT) planning is essential to help mitigate the potential tax liabilities on your estate. Here are ten tips for effective inheritance tax planning: Understand the Nil Rate Band and Residence Nil Rate Band Be aware of the standard Nil Rate Band and the Residence Nil Rate Band, which can be applied to […]
UK citizens warned over major IHT error
Britons are now being urged to avoid making a significant mistake that many people fall foul of regarding inheritance tax (IHT).
How does inheriting a family home impact inheritance tax?
Passing wealth on to future generations of your family is a time-honoured practice in Britain.
How can a trust help you with inheritance tax?
UK savers keen to limit the impact of inheritance tax on their estate often find that trusts can be a valuable option to consider. This is because, if specific conditions are met, assets like
Does the government plan to overturn Inheritance Tax?
This year, national headlines suggested that the UK Government was considering getting rid of Inheritance Tax, with the aim of appealing to specific voters hit hard by the mandatory levy.
UK charities petition for legacy income protection if IHT is abolished
The present Inheritance Tax (IHT) framework offers generous financial incentives for the practice of legacy giving, which is a growing revenue stream for charities based in Britain. As a result, the not-for-profit group Remember A Charity is calling on policymakers and ministers to consult with its sector to make sure that legacy income will remain […]
How can a protective policy ease the burden of IHT?
While wealth management teams often assist with investing and retirement, they can also advise on estate planning. As a result, Britons financially preparing for the day they pass away can ensure that the loved ones they leave behind are well taken care of.
Figures reveal IHT receipts rise by a billion
New statistics released have showed that Inheritance tax (IHT) receipts have risen for the tax year running from April 2022 through to March 2023. Mostly due to property wealth, receipts rose to reach £7.1 billion for the billing period, around £1 billion higher than in previous tax year.
