A Recent Study Predicts Greater Demand for Inheritance Tax Advice

Prudential have carried out new research showing that financial advisers are forecasting a sharp rise in demand for Inheritance Tax advice. It was found that 7 out of 10 advisers interviewed expect demand for IHT planning to grow over the … More

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Acceptance in Lieu

An 18th century portrait of the 5th Earl of Carlisle by Joshua Reynolds has been accepted by the nation in lieu of £4.7m inheritance tax. The Acceptance in Lieu (AIL) scheme is administered by Arts Council England and enables taxpayers … More

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August 2015 – “It’s not fair and we will act” – The new Inheritance Tax allowance for residential property

One of the things in George Osborne’s Summer Budget speech which attracted a lot of attention was the announcement of the phasing in of a new Inheritance Tax (“IHT”) allowance of £175,000 (to be added on to an individual’s existing … More

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March 2015 – Joker George & “Deeds of Variation”

One of the things the Chancellor, George Osborne, said in his Budget speech on 18th March was: “I can also tell the House that we will conduct a review on the avoidance of inheritance tax through the use of deeds of … More

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April 2014 – Inheritance Tax (“IHT”) and “mixed marriages”

This Note touches on particular changes to the IHT rules made in the Finance Act 2013 (“FA 2013”) concerning transfers of property between spouses. (References below to “spouses” include civil partners, and references to “marriage” include a civil partnership.) Before … More

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April 2012 – HMRC Revised approach to normal expenditure exemption

If you make lifetime gifts then, in the event of your death, they may be added back when it comes to working out any inheritance tax (“IHT”) payable on your estate. But some gifts are “exempt” from IHT so they … More

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