How to make the most of unused inheritance tax allowance
The UK tax office has recently updated its rules for transferring any unused portion of basic and additional IHT thresholds when the first person in a marriage or civil partnership dies.
IHT
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UK stately home donates Roman artefacts to pay IHT bill
North Yorkshire stately home Castle Howard has donated Roman artwork to the nation in lieu of nearly £5.5m ($7.1m, €6.1m) owed in inheritance tax.
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Five Sipp facts not many people know
An estimated one million people have opted for self-invested personal pensions (Sipp) as they offer a wide choice and the freedom to invest almost anywhere. Hargreaves Lansdown have put together some of the lesser-known facts about the increasingly popular retirement vehicle.
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Bigger IHT haul signals a more aggressive HMRC
The IHT take has risen dramatically in the UK over the last two years leading insurer NFU Mutual to warn that HM Revenue & Customs may be getting more aggressive with estates, despite the introduction of a new nil rate residence band.
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Five common mistakes UK expats make about domicile and tax
British expats still have some crucial misunderstandings about their domicile status and tax position that could leave them and their loved ones financially exposed and even land them in trouble with HM Revenue & Customs, warns Rachael Griffin, financial planning expert at Old Mutual Wealth.
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CGT and IHT may fall victim to ongoing UK election stalemate
Attractive exemptions to the inheritance tax (IHT) regime as well as low capital gains tax rates could face the chopping block amid concerns that Britain is heading for a second general election this year.
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UK’s IHT relief on charitable relief reaches record levels
The amount of inheritance tax saved by leaving money to charities in the UK is predicted to surpass £900m (€1,027m, $1,159m) in the next financial year, following a sharp increase in the amount of charitable donations left in wills.
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UK advisers turning to law firms as IHT changes bite
Financial advisers expect a boom in demand for inheritance tax (IHT) advice and are looking to strengthen business partnerships with lawyers to help them cope.
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Brewin chief demands UK prime minister act on savings crisis
Intergenerational wealth disparity, tax simplification and removal of the £1m lifetime pension allowance are all addressed in a remarkable letter to the prime minister from Brewin Dolphin chief executive David Nicol.
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How to earn up to £140,000 of tax savings by 2020
Now that the start button for the phased introduction of the nil rate residential band has been pressed, John Haley, technical sales manager at Utmost Wealth Solutions, explains that there are “many holes to leap through” to achieve the biggest outcome.
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How the tricky ‘stay of execution’ for UK non-doms will unfold
The UK new non-dom rules which were dramatically dropped from the government’s finance bill has left those who prepared for those changes “in a very difficult position”, says Paul Thompson, tax and estate planning consultant at Canada Life.
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What the changes to the UK nil rate band mean for IHT planning
A staggering 70% of people have no understanding of the new residence nil rate band allowance coming into force on 6 April, which could have serious implications for their inheritance tax planning, warns Old Mutual Wealth financial planning expert, Rachael Griffin.