Explaining Inheritance Tax



This is one of the few constants unforgiving, everyone at some point will shuffle from this mortal coil and something else for obvious reasons most of us do not want to spend too much time to think about it, let alone planning for it.

Sorry, just giving away all the while you're still alive is not going to save their customers from this tax if you managed to do seven or more years before you die, (so that the crystal ball is ready), because gifts and trusts created during life are also subject. HMRC rules do not allow some of the ways for you to less your heirs' tax by gifting, so talk with your accountant to learn more.

If you are feeling charitable there will be inheritance tax to pay for a UK registered charity if you leave your estate to them, and if you're lucky enough to be leaving the national heritage property or the woods with someone as part of their property will often be find tax breaks available to them.

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