31 January 2024 Deadline for Hybrid LLPs: Withdrawal and Settlement Considerations
As the 31 January 2024 deadline for Hybrid Limited Liability Partnerships (LLPs) approaches, participants are facing pivotal decisions. Recent letters from HMRC have brought attention to the ongoing scrutiny of Less Tax for Landlords, the planning provider in focus. While some seek...
The Pros And Cons Of Setting Up A Trust To Reduce IHT In The UK
Effective death tax planning in the UK requires understanding inheritance tax (IHT) and trusts. Trusts, like Discretionary and Interest in Possession Trusts, can reduce IHT from 40% to 26% if the settlor survives 7 years. Savings depend on property value....
UK Inheritance Tax for Non Residents: Rules and Exemptions
For non-UK residents, careful planning is essential to navigate the scope of inheritance tax (IHT) on UK assets. While IHT typically applies to UK assets for non-residents, certain exemptions exist, such as government securities (gilts) and foreign currency bank accounts....
Business Property Relief-Transfer your Business Without Paying IHT
Business Property Relief (BPR) is vital for UK individuals safeguarding assets from the 40% Inheritance Tax (IHT), exempting or reducing the tax on business transfers to family by 50%. Qualification requires assets engaged in trading activities and a two-year ownership....
Importance of Making a Will to Avoid Inheritance Tax in the UK
This article will discuss the importance of creating a will in inheritance tax planning, covering control over asset distribution, tax-efficient gifts, allowance utilisation, and strategic trust setups to minimize tax liabilities with professional guidance.
Residence Nil Rate Band | Inheritance Tax Relief
This article delves into the Main Residence Nil Rate Band (RNRB), introduced in April 2017, offering an additional inheritance tax threshold for transferring the family home to direct descendants. It covers qualifying criteria, relief mechanisms, tapered withdrawal, and the transfer...
Estate Administration and Inheritance Tax in the UK
Learn about how you can ensure the safe inheritance of assets while making sure entire process will go smoothly with our guide on Inheritance Tax.
All You Need to Know About Gift with Reservation of Benefit
Learn about Gift with Reservation of Benefit and why it is important if you plan to save your assets from Inheritance Tax in the future.
Which is better for Inheritance Tax? Lifetime Gifts vs Transfer at Death
In this article, we will discuss strategies to navigate inheritance tax, comparing the benefits and considerations of making lifetime gifts versus leaving assets in your estate.
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