25 Jan 2018
As tax year end is almost upon us have your clients made the most of their Inheritance Tax (IHT) exemptions?
Did you know your clients can give as many individuals as they please £250 each. As long as the gift doesn't exceed this amount (even by a £1) it doesn’t count in their Inheritance Tax calculation. Handy if your clients have lots of grandchildren!
They are also entitled to gift up to £3,000 each tax year either as a lump sum or as part of a series of gifts. This comes in useful if your clients have a life policy in trust to cover their Inheritance Tax bill, as this can be used to cover some or all of the premiums to the plan.
Read the full article here.
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