INHERITANCE TAX - 19.03.2024
Saving IHT with a letter of wishes
The inheritance tax (IHT) exemption for gifts between spouses looks generous but may ultimately do no more than defer tax. How can your clients use a letter of wishes to turn the exemption into real tax savings?
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TRUSTS - 05.03.2024
Winding up a trust - avoiding a tax trap
You’ve been looking after a trust for your children for years. As they are now adults and working you’ve decided to wind up the trust and give each of them their share of the fund. What steps can you take to make the winding up tax efficient?
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BUSINESS PROPERTY RELIEF - 27.02.2024
Retiring without springing an inheritance tax trap
Your client holds the main interest in a family-owned trading partnership. He is looking to retire, selling his interest to his adult children. You have advised that this could lead to an inheritance tax (IHT) charge. What should you advise here?
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INHERITANCE TAX - 12.12.2023
IHT, international marriages and civil partnerships
Our subscriber’s spouse is from overseas. She’s read that this can result in extra inheritance tax (IHT) if she leaves her estate to her partner. She wants to know if this is correct and, if so, what can be done to avoid the extra tax?
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GIFTS - 12.12.2023
Gift aid - ‘tis the season to be giving
Amidst the baubles and festive cheer, whether you’re in business or pay tax as an individual, how can you make your altruism go a bit further by taking advantage of valuable tax breaks?
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INHERITANCE TAX - 29.11.2023
Problem with residence nil rate band rules?
The mother of one of our subscribers owns a house in a retirement community. When she dies the property must be sold back to the property management company. Will this mean the estate will lose the residence nil rate band (RNRB)?
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