Inheritance Tax

Gifting assets can cut inheritance tax, but traps like “gifts with reservation of benefit” may undo the plan.

The majority of gifts made during a person’s lifetime are not subject to tax at the time they are made. These lifetime

From 6 April 2027, new measures first announced in the Autumn Budget 2024 will come into force. These changes will bring most unused pension funds and death benefits into the scope of Inheritance Tax (IHT) from April 2027. This represents a major

Trustees must manage assets, follow tax rules, and register with HMRC where required.

A trust is a legal arrangement in which a trustee, either an individual or a company, is entrusted with managing assets such as land, money, or shares on behalf of

With the Residence Nil Rate Band (RNRB), families can pass on up to £1 million without IHT

The RNRB is an additional £175,000 Inheritance Tax (IHT) allowance that applies when a person’s main residence is passed to a direct descendant, such as a

Before probate begins, you must estimate the estate’s value to see if Inheritance Tax applies. This includes valuing the deceased person’s money, property and belongings in order to determine if Inheritance Tax (IHT) is due. This process is important

Married couples can pass on up to £1 million tax-free if they plan their estates carefully.

The Inheritance Tax (IHT) nil-rate band is currently £325,000. This means there is normally no IHT to pay if an estate is valued below this threshold. This

Despite intense lobbying by the farming community, the proposed reduction in IHT Business and Agricultural Property reliefs are included in the draft Finance Bill 2025-26.

On 21 July 2025, the government published draft legislation for Finance Bill

It was confirmed with the publication of the draft Finance Bill 2025-26 that measures first announced in the Autumn Budget 2024 to bring most unused pension funds and death benefits into the scope of Inheritance Tax (IHT) will start from 6 April

Double tax on estates can still hit families hard, even with treaties in place. When someone dies with ties to more than one country, their estate may face inheritance tax in both jurisdictions. Fortunately, the UK has Double Taxation Conventions

Lifetime gifts can reduce Inheritance Tax, but survival for seven years and using key exemptions like the £3,000 annual allowance are crucial to making them fully tax-free.

Most gifts made during a person’s lifetime are not immediately subject to