The present rate of Inheritance Tax (IHT) that is payable by your executors on your taxable estate is 40%. The good news is that you can reduce the impact of this tax, which effectively reduces the amount of your hard-won assets that is received by…
Category: Inheritance Tax
Gifts and Inheritance Tax (IHT)
When you make a gift to third parties you are potentially transferring part of your estate, and a life-time charge to IHT may be applied. However, in most cases, you will not need to open your cheque book as there are a number of…
Can you change a will after death?
On the face of it, this sounds implausible. How can you change your will if you have died? In reality, as long as any beneficiaries left worse off after any change, agree, you can change a person’s will after their death. Any change must…
Inheritance tax in for an overhaul?
The Office for Tax Simplification (OTS) has been tasked by government to review key aspects of the inheritance tax (IHT) legislation. According to information posted to the government’s website recently, the review would appear to be wide ranging. Issues to be examined include: The…