Inheritance Tax - IHT

Scottish Life International has evaluated its range of draft trusts and is pleased to announce that they remain appropriate in the post budget environment.

AXA Wealth Management warns that many couples could lose the benefits of the new transferable nil rate tax bands for inheritance tax, if the new rules are not fully explained.

Standard Life has welcomed the publication of new IHT regulations which will greatly simplify the compliance and reporting involved for many lifetime gifts.

Despite a will being the key part of everyone’s overall financial and estate planning, the most recent Wills and Trusts Research Report from Standard Life has revealed that people are still not putting their personal affairs in order.

Three quarters of people in the UK (74%) do not have a will, leaving their families walking a financial tightrope when they die, new research from Friends Provident, the FTSE 100 life and pensions company, has revealed.

The Inheritance Tax Planner portfolio service from Rensburg Sheppards has beaten 21 other providers for performance and service to claim first place, according to a new research report conducted by the Tax Efficient Review.

The average detached house price in Greater London is now £588,604. It is therefore easy to see why the Conservatives feel that this tax is unfair and why they are advocating that the threshold should be increased from £300,000 to £1,000,000.

Alarming numbers of Britons are continuing to ignore high-profile media campaigns urging them to mitigate against Inheritance Tax (IHT), a blunder that could result in their grieving families receiving a hefty upfront bill from the taxman when they try to claim their inheritance.

Liz Henderson of James Hay’s Technical Unit comments on the proposed inheritance tax reforms announced by the Conservative Party.

Zurich has sponsored a new handbook on Inheritance Tax and Estate Planning entitled “Inheritance Tax Simplified”.

Graeme Robb of James Hay’s Technical Unit comments on the proposed inheritance tax reforms announced by the Conservative Party.

On 17 August 2007 the Economic Competitiveness Policy Group (ECPG) published its 211 page report looking at equipping the UK for globalisation.

AEGON’S technical manager, Margaret Jago comments: “In 2002 the number of people with estates over the IHT threshold was around two million.

UK house price inflation and increasing personal wealth are sucking more and more estates into the inheritance tax (IHT) net, warns financial research company Defaqto.

Yorkshire Building Society has launched a campaign to raise awareness of how ordinary people are getting caught by a tax that was once considered the tax of the rich – Inheritance Tax (IHT).

Standard Life is launching a new information pack aimed at demystifying estate planning for financial advisers and their clients.

With Inheritance Tax affecting more and more of the population, Bradford & Bingley believes UK homeowners should consider planning what will happen with their estate.

Inheritance tax (IHT) is a problem for many estates – but good financial advice and planning can cut the amount that goes to the taxman.

Two in three people in the UK have no will, according to the latest findings from Barclays Wealth.

Clerical Medical is launching a new investment guide for advisers to help their clients reduce their inheritance tax (IHT) liability with a Discounted Gift & Income Plan (DGIP).

Many people mistakenly think inheritance tax is solely the preserve of the rich and won’t affect them.

Skipton Financial Services Limited (SFS) are pleased to announce the launch of another partnership, this time with The Readers Digest.

Standard Life Assurance Limited’s Gift Plan is celebrating its second birthday.

AEGON Scottish Equitable warns of inheritance tax threat from so called ‘tax free’ savings products.

Gone are the days when mum and dad could bank on a family inheritance to clear the mortgage. New research from AA Legal Services reveals that seven in ten young Brits (70%) most fear inheriting a mountain of debt when their parents pass away.

Many people mistakenly think inheritance tax is solely the preserve of the rich and won’t affect them.

The National Association of Estate Agents (NAEA) has reiterated its concern over inheritance tax (IHT) and the Chancellor’s plans to increase the nil rate threshold by a minimal amount over the next four years.

A prediction by the Chancellor that around six per cent of UK estates are likely to be caught in the inheritance tax (IHT) trap by 2010 is deliberately misleading, according to fund manager The WAY Group.

UK taxpayers are wasting millions of pounds due to poor IHT planning according to annual research by Unbiased.co.uk.

Property tax revenues - including inheritance tax and stamp duty - in the UK are the highest (along with the US) in the OECD. Property taxes as a percentage of total taxes in the UK have risen from 10.4% in 1995 to 12.0% in 2004 according to the latest statistics. The average for the Euro-zone is 5.3% and the UK's 12.0% compares with 8.1% in Spain, 7.6% in France and 2.5% in Germany.(source: OECD).

Friends Provident, the FTSE 100 life and pensions company, has added a bare trust to its Discounted Gift Plan (DGP) in a move to provide wider flexibility to IFAs and their clients for inheritance tax planning (IHT) purposes.

With 75,000 UK pensioners currently living in Spain, the subject of Inheritance tax for British expatriates is one that needs to be given careful consideration, says Bank of Scotland International.

Standard Life has announced the expansion of its trust range with the launch of a Discounted Gift Plan Absolute Trust, giving more choice of trusts for advisers and clients.

Two thirds of UK adults (60%) think their children should not inherit aged 18 but should wait until they are 21 or over, according to research by Saga Will Writing and Estate Planning Services. However, a massive 83% of people were unaware that, under new IHT laws, if offspring do not inherit from a trust at 18 years of age then they will now be taxed.

Standard Life has welcomed the announcement that HMRC intends to increase the inheritance tax reporting limit for certain types of gift in tax year 2007-08, from £10,000 to £200,000.

As more people are caught out by inheritance tax than ever before, due to increased wealth and rising house prices, Scottish Widows research reveals Brits are well aware they can’t take it with them when they’re gone, and are planning on giving away £103 billion to friends and family to avoid a huge tax bill on their death.

Property value growth means tens of thousands more Britons face hefty inheritance tax bills and Budget changes have made it more difficult to plan for inheritance tax using most trusts.