July 2020 – Coronavirus & Lifetime Planning

Introduction One of the effects of Covid-19 is that for some the value of their investments has gone down. Compared with the devastation Covid-19 has wrought for many that concern may not seem significant. One might see it as a … More

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January 2020 – Inheritance Tax – Prospect Of Some Lifting Of The Burden

On 14th January the Inheritance Tax Act 1984 (Amendment)(Siblings) Bill was given its first reading in the House of Lords. What is it all about? Before turning to that some background: Inheritance Tax (“IHT”) Inheritance tax is a tax on … More

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July 2019 – Death tax – making it “simples”?

The Office of Tax Simplification There is (believe it or not) something called the Office of Tax Simplification (“the OTS”). It was set up as a temporary body in July 2010 and it was put it on a permanent, statutory … More

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Scotland is Placed Middle of the Board for Inheritance Tax Liability in the UK

Following a Freedom of Information request by Direct Line, Guildford in Surrey was dubbed the Inheritance Tax capital of the UK after it was revealed that as many as 658 families from the town southwest of London were subject to … More

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Inheritance Tax exceeds £5 Billion for the First Time

HM Revenue & Customs recently released data which showed Inheritance Tax (IHT) raised a record £5.2 billion in the financial year 2017-18, up 8% from the previous tax year. It is thought that the increase is due to the fact … More

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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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