Norwich  01603 766078  |  London  020 374 01857

The Inheritance Tax rules can be difficult to fathom when an expat or another person with connections to the UK living outside the country dies. The liability to Inheritance Tax in the UK depends primarily on the domicile of the d... Read More

New rules were introduced by the Government in 2015 that allow for the spouse or civil partner of a deceased ISA saver to benefit from additional ISA benefits. Under the rules, if an ISA saver in a marriage or civil partnership dies, their spouse or... Read More

Business Property Relief (BPR) is an attractive tax relief for taxpayers with business interests, offering either 50% or 100% relief from Inheritance Tax (IHT) on the value of their business assets if certain conditions are met. The relief can even b... Read More

The Inheritance Tax main residence nil-rate band (RNRB) came into effect on 6 April 2017. The RNRB is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent, such a... Read More

There are special intestacy rules that govern how assets are divided if you die without making a will. If this happens your assets are passed on to family members in accordance with a set legal formula. This can result in a distribution of assets tha... Read More

The Disclosure of Tax Avoidance Schemes (DOTAS) legislation, targets taxpayers who implement listed tax avoidance schemes as well as the promoters of tax avoidance schemes. New regulations came into force on 1 April 2018 that extended the scope of th... Read More

Most gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or 'PETs'. The gifts or transfers achieve their potential of becoming exempt from Inheritance... Read More

Most gifts made during a person's lifetime are not subject to tax at the time of the gift. The lifetime transfers are known as 'potentially exempt transfers' or 'PETs'. These gifts or transfers achieve their potential of becoming exempt from Inh... Read More

A trust is an obligation that binds a trustee, an individual or a company, to deal with the assets such as land, money and shares which form part of the trust. The person who puts assets into a trust is known as a settlor and the trust is for the ben... Read More

Many taxpayers are aware that there is an annual Inheritance Tax exemption of £3,000 for gifts and this can be carried forward to the following tax year if not used to make a maximum gift of £6,000. You can also give as many gifts of up to £250 per p... Read More

The surprising answer to this question is usually no. This is because inheritance tax (IHT) is usually levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. If you are the heir to al... Read More

Most gifts made during a person’s life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or 'PETs'.  These gifts or transfers achieve their potential of becoming exempt if the ta... Read More