inheritance tax

I’d like to give a big sum of money to my family while I’m still alive – is this ok?

In theory this is fine. But there are pitfalls you need to be aware of. The first is that you shouldn’t give away money you may need yourself in the future.

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How will my late wife’s estate affect my IHT?

Residence relief is only available to someone who leaves their main residence to direct descendants.

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Can we gift to our grandchildren IHT-free?

I assume you have each been using your annual allowance in previous years as you say that you each give your son £3,000 a year. So you would not have any unused allowance to bring forward.

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Brits paying record levels of inheritance tax says HMRC, but it can be avoided if you know how

Brits are paying more inheritance tax than ever before, according to the latest figures from HMRC.

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Inheritance tax: how much you can gift

Everyone is allowed to give away money every year with that amount immediately leaving their estate and no longer being liable for inheritance tax.

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More time for grieving families: probate fee hike delayed by Brexit

The new probate fee structure set to be introduced on 1 April has been delayed due to the ongoing Brexit tribulations in Parliament.

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Can my dad help cut our future inheritance tax bill?

Since October 2007, it has been possible for spouses to pass their nil-rate band to each other for inheritance tax purposes. 

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Can I gift £3,000 for previous years without paying inheritance tax?

Every year, we can all gift up to £3,000 in cash or assets without attracting inheritance tax (IHT). This is known as your ‘gift allowance’.

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"HMRC asked me to pay IHT on my mother’s Isa cash": Moneywise readers' best comments and letters

Each month we publish the best comments, emails and letters from our readers the star of which will win a £50 M&S giftcard. Here are the best of January 2018

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Inheriting a tidy sum? Spend it wisely

Has a relative or friend left you money in their will? If you’re not sure what to do with it, read our step-by-step guide to how to make the most of that extra cash

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