Tag: Inheritance Tax

Inheritance Tax Christmas Gifts
Our Blog

Inheritance Tax Christmas Gifts

When making a gift, it is important to ascertain whether the gift is being made out of income or from capital. There is an inheritance tax exemption for normal expenditure from income. To qualify, the gift must be made regularly and only from surplus income.

Save Inheritance Tax
Articles

Give from Income to Save Inheritance Tax

Gifts that are not covered by an exemption will counts towards the estate for inheritance tax purposes and, if the donor fails to survive for at least seven years from the date on which the gift was made, may suffer an inheritance tax bill if the nil rate band (currently £325,000) has been used up.

Making Tax Free Gifts Inheritance Tax
HMRC

Making Tax Free Gifts Inheritance Tax

There is an annual gifts exemption for inheritance tax which allows you to give away £3,000 of gifts in total IHT-free in each tax year. If the exemption is not used in full in one tax year, the unused amount can be carried forward to the following year, after which it is lost if it is not used.

Inheritance tax,
HMRC

INHERITANCE TAX – RNRB EXPLAINED

The RNRB threshold is currently set at £100,000, but this is set to increase by £25,000 each tax year, reaching and staying at £175,000 in the 2020-2021 tax years.