INHERITANCE TAX - 19.10.2020
Protecting the value of your home from IHT
The residence nil rate band (RNRB) can increase the amount of your estate that will escape inheritance tax. When can the RNRB apply and what steps can you take to ensure that your beneficiaries benefit from the tax savings?
BUSINESS PROPERTY RELIEF - 24.09.2020
Funding a company: avoid an IHT trap
Your client owns a trading company that requires some extra capital. She is intending to take out a personal loan secured on her house to fund this. However, why might this lead to a problem with inheritance tax, and what can you advise?
INHERITANCE TAX - 08.09.2020
Sharing a windfall - is there a tax cost?
You recently sold some assets and plan to pass part of the proceeds to your adult children. You’re worried about possible inheritance tax (IHT) consequences but a friend has told you that you’re covered by the income exemption. Are they right?
IN THIS ISSUE AGRICULTURAL PROPERTY RELIEF - 27.08.2020
Farming clients: inheritance tax relief
One of your clients owns and operates a local farm. They are many years from retirement but have asked for a meeting to discuss relief from inheritance tax, particularly in relation to the large farmhouse. What are the key issues they need to look out for as they draw closer to retirement age?
INHERITANCE TAX - 27.08.2020
Don’t overlook fall in value relief for shares
One of your longstanding clients died in late 2019. In order to pay some of his debts, the executors are selling some shares. However, the coronavirus pandemic has led to a drop in the value of the portfolio. Why might this mean an inheritance tax (IHT) refund is due?
INHERITANCE TAX - 08.06.2020
Helping with family finances - is there a tax cost?
Your adult child is struggling with money and has come to you to for help. You’ve been paying some of their household bills until they get back on their feet. What tax consequences do you and your child need to consider?