Category: inheritance tax

Beware of triggering an IHT bill on Christmas gifts

When deciding what to give as Christmas gifts, the possibility of triggering an unintended inheritance tax liability is not one that immediately springs to mind. However, there are traps that may catch the unwary. Income or capital When making a gift, it is important to ascertain whether the gift is being made out of income…


Inheritance tax and spouses and civil partners

Special rules apply for inheritance tax purposes to married couples and civil partners. To ensure valuable tax reliefs are not lost, it is beneficial to consider the combined position, rather than dealing with each individual separately. Married couples and civil partners benefit from exemptions that are not available to unmarried couples. Inter-spouse exemption The main…


Give to charity to reduce your inheritance tax bill

Making gifts to charity can be an effective way to reduce the amount of inheritance tax (IHT) payable on your estate. Charitable gifts can work to reduce the IHT payable in two ways: reducing the value of the net estate chargeable to IHT; orwhere the gifts to charity are worth at least 10% of the…