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Tag: IHT

Afford Bond Chartered Accountants
AGRICULTURAL PROPERTY AND THE TAX MAN
In the age of barn conversions and agricultural diversification, the tax man has reaped some hefty rewards from many of the UK’s farming families. Yet many are still not aware of, nor are they taking...
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Alextra Accountants
Inheritance Tax And Potentially Exempt Transfers
Aside from the annual exemption and the exemptions for particular gifts (such as those out of income or in consideration of marriage), it is possible to make gifts free of inheritance tax – as long as...
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Afford Bond Chartered Accountants
IHT and gifting property to family members
The gifting of property between family members is regularly discussed when looking at wealth and succession planning if a property portfolio is involved. However, the tax implications of such transac...
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Afford Bond Chartered Accountants
Equestrian and livery businesses can save on IHT
Did you know that Business Property Relief (BPR) is one of the most highly prized agricultural inheritance tax reliefs available? Yet numerous landowners are not taking advantage of it because they a...
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Alextra Accountants
IHT Estate Returns
When someone dies, there are forms to fill in and send to HMRC. There are different forms and the correct forms depend on whether or not there is any inheritance tax to pay. Consequently, before the f...
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Alextra Accountants
Residence Nil Rate Band
From April 2017, a new nil rate band – the residence nil rate band (RNRB) – is available for inheritance tax purposes. It increases the amount that can be left free of inheritance tax when the estate ...
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Alextra Accountants
Using Loan Trusts
While giving away assets and hoping to live for seven years afterwards can take them out of the taxman’s reach for inheritance tax purposes, the downside is that you lose the right to benefit from tho...
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Alextra Accountants
Giving Your Home Away – Beware The GWR Rules
It is possible to escape inheritance tax on gifts by surviving for seven years after the date of the gift. However, the benefit of making lifetime gifts may be lost if the gift comes with strings atta...
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Alextra Accountants
Passing On Your Home IHT Free – The New Main Residence ...
As widely anticipated, in his summer 2015 Budget, the Chancellor announced measures that will eventually allow couples to pass on their family home to their children or grandchildren free of inheritan...
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Alextra Accountants
Making Gifts Out Of Income To Save IHT
The inheritance tax legislation contains a number of exemptions which make it possible to give money away without fear of triggering an inheritance tax charge. One such exemption is that for normal ex...
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Alextra Accountants
Inheritance Tax And The Family Home
Further detail has emerged (in a leak to the Guardian newspaper) concerning a new Inheritance Tax (IHT) allowance announced in the Conservative Party election manifesto to set against the value of the...
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