Tag: Inheritance Tax Free

Pass on your House free of Inheritance Tax
HMRC

Pass on your House free of Inheritance Tax

The RNRB is only available if the residence is left to a direct descendant. This includes a child (including step, adopted and foster children) and their lineal descendants.

Give Away £3,000 of Inheritance Tax Free
HMRC

Give Away £3,000 of Inheritance Tax Free

If an individual makes gifts in a year which do not exceed the amount of the annual exemption, the gift is tax-free. To the extent that the exemption has not been fully utilised, the excess can be carried forward – but only for one tax year.