Assets that pass on free of Inheritance Tax
Inheritance Tax reliefs allow some assets to be passed on free of IHT or with a reduced bill. (more…)
What a relief
Posted on April 29, 2015 by admin - Retirement, Wealth Creation
Topic: Wealth Creation
Gifts
Posted on April 29, 2015 by admin - 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…)
Paying Inheritance Tax
Posted on April 29, 2015 by admin - News, Protection, Retirement, Wealth Creation
Estimating how much liability you could leave behind for your loved ones
Usually the ‘executor’ of the Will or the ‘administrator’ of the estate pays Inheritance Tax using funds from the estate. (more…)
Taking preventative action
Posted on April 29, 2015 by admin - 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…)
Investing for income
Posted on January 9, 2015 by admin - Investment, News, Wealth Creation
During difficult economic times, one of the tools available to the Bank of England to stimulate the economy is interest rates. Lower interest rates mean that it is cheaper to borrow money and people have more to spend, hopefully stimulating the economy and reducing the risk of deflation. (more…)