How to Reduce Inheritance Tax (IHT) by Giving Gifts During Your Lifetime
The UK government made some important changes to Inheritance Tax (IHT) in the Autumn Budget 2024. These changes could affect how much tax your estate pays when you pass away. This guide explains what’s changed and how you can use gifts to reduce the amount of IHT your estate might owe.
How to make use of IHT exempt gift allowances
Internet shopping may have boomed during the pandemic, but many people have spent less than usual while forced to stay home during the periods of lockdown. For those with spare money, they have an opportunity to make the most of inheritance tax reliefs on gifts to family and friends if they act swiftly.
The ‘cost of dying’ is now racing ahead of the rate of inflation
Recent research has revealed that the cost of dying is now the fastest rising fixed cost in the UK, ahead of costs of living including rent, utilities and food.
