The Residence Nil Rate Band for Inheritance Tax provides a greater death nil rate band if an individual dies and leaves their family home to their children, grandchildren, step children or adopted children. The normal Nil Rate Band is increased from £325,000 to...
Inheritance Tax is charged on the value of assets and two important reliefs are available in the form of Business Property Relief (BPR) and Agricultural Property Relief (APR) which provide an exemption at either 100% or 50% on qualifying assets. Business Property...
Inheritance tax usually kicks in when the value of an estate exceeds the tax-free threshold of £325,000 and each year, an increasing amount of estates are having inheritance tax deducted before what’s left is distributed to any beneficiaries or causes. Total...
Senior Tax Manager Lucy Orrow has helped many clients with their Inheritance Tax and Estate Planning enquiries. In this series of Inheritance Tax case studies, we look at a typical scenario for Inheritance Tax and the implications of giving away wealth as a way of...
Senior Tax Manager Lucy Orrow has helped many clients with their Inheritance Tax and Estate Planning enquiries. In this series of Inheritance Tax case studies, we look at a typical scenario for Inheritance Tax and the implications of giving away wealth as a way of...
HMRC has issued statistics for the 2018/19 tax year which confirms that they have received £5.4 billion in Inheritance Tax in this period. The Inheritance Tax take by HMRC has been growing for the last 9 years and shows another increase of 3% over last year’s...
