An introduction to Inheritance Tax (IHT) presented by Lucy Orrow – Senior Tax Manager at Lambert Chapman LLP. Could your Executors be at risk of paying 40% tax on your estate? In this webinar recording, Lucy takes us through the current IHT rules in the UK along with...
Lifetime giving can be an effective tool for individuals seeking to reduce their Inheritance Tax liabilities on death. The exemptions available which provide potential relief from Inheritance Tax include: An annual exemption of £3,000 per year. Wedding gifts up to...
We recommend that our clients have Wills prepared and that these are regularly reviewed and updated to reflect changes to their circumstances. A Will allows the individual’s Estate to be passed as the deceased intends and it also allows Inheritance Tax planning and...
An individual’s Will and the use of Deeds of Variation potentially allow mitigation of Inheritance Tax liabilities on the person’s death. Planning factors to minimise Inheritance Tax liabilities include: Utilising the spouse exemption. This potentially allows assets...
The Residence Nil Rate Band for Inheritance Tax provides a greater death nil rate band if an individual dies and leaves their family home to their children, grandchildren, step children or adopted children. The normal Nil Rate Band is increased from £325,000 to...
Inheritance Tax is charged on the value of assets and two important reliefs are available in the form of Business Property Relief (BPR) and Agricultural Property Relief (APR) which provide an exemption at either 100% or 50% on qualifying assets. Business Property...
