Monthly Archives: April 2015

Giving to charity

Posted on April 29, 2015 by - Retirement, Wealth Creation

Reducing an Inheritance Tax – it’s good to give

A n estate can pay Inheritance Tax at a reduced rate of 36% on some assets (instead of 40%) if 10% or more of the ‘net value’ of their estate is left to charity. (more…)

Gifts

Posted on April 29, 2015 by - Retirement, Wealth Creation

Small gifts that don’t create an Inheritance Tax liability

HM Revenue & Customs allows you to make a number of small gifts each year without creating an Inheritance Tax liability. Remember, each person has their own allowance, so the amount can be doubled if each spouse or registered civil partner uses their allowances. You can also make larger gifts, but these are known as ‘Potentially Exempt Transfers’ (PETs), and you could have to pay IHT on their value if you die within seven years of making them. (more…)

Taking preventative action

Posted on April 29, 2015 by - Protection, Retirement, Wealth Creation

Reducing your beneficiaries’ potential Inheritance Tax bill – or mitigating it out altogether

With careful planning and professional financial advice, it is possible to take preventative action to either reduce your beneficiaries’ potential Inheritance Tax bill or mitigate it out altogether. (more…)

History lesson

Posted on April 29, 2015 by - Protection, Retirement

Inheritance Tax matters

Inheritance Tax was introduced in the UK in 1796 and stemmed from the influence of the French Revolution. The concept of IHT was supposed to protect poorer members of society and interrupt the legacy of inherited wealth. (more…)