Estates liable for inheritance tax in the UK in 2010-2011 faced a bill of nearly £166,000 on average, according to new analysis of HMRC data by Prudential.
After a lifetime of saving for their future and with rising long-term care costs, it is not surprising that many reach retirement and continue to focus on protecting their finances, instead of enjoying their money.
With over 20,000 families losing £3.1 billion in Inheritance Tax (IHT) in 2012/13, Chartered IFA - The Private Office – has written a free guide offering 10 steps to help mitigate or even eliminate your Inheritance Tax bill.
The majority of Brits ‘expect’ to receive inheritance from their parents – but in reality four in 10 won’t get a penny, according to new research.
A Bristol tax specialist has warned that a judgement of the Upper Tax Tribunal could spell bad news for holiday home owners in relation to their Inheritance Tax (IHT) liabilities.
Unbiased.co.uk, the professional advice website, has announced the launch of its annual ‘Write a Will Week', beginning on Monday, 22 October, in partnership with Octopus Investments ("Octopus").
Unbiased.co.uk's annual Tax Action Report reveals UK taxpayers will waste £448 million this year due to poor inheritance tax (IHT) planning when it comes to their life insurance policies.
Julie Hutchison's (head of technical insight at Standard Life) response to the change in IHT by HMRC, which details that from 6 April if you leave ten per cent of your estate to charity the tax due may be paid at a reduced rate of 36 per cent instead of 40 per cent.
People who are eligible for flexible income drawdown on their pension savings can use the scheme to significantly reduce their inheritance tax liabilities, according to investment specialist Skandia.
£1.1 trillion will be left to beneficiaries by 2047, the peak of leaving an inheritance, reveals a new report by HSBC.
Researchers discovered millions of young adults, dubbed NINNIs - or ‘Need It Now, Not as Inheritance' - have gone cap in hand to mum and dad for an advance on their legacy.
Britons are turning towards the internet for advice on estate planning, according to research by Standard Life.
More than half (51%) of British adults don't have a Will drawn up, according to research by Standard Life.
With Royal Wedding fever sweeping the nation, many individuals and businesses will be thinking about wedding gifts for the forthcoming wedding ‘season'.
Unbiased.co.uk's annual Tax Action Report reveals that UK taxpayers will waste nearly £1.3 billion this year due to poor inheritance tax (IHT) planning. This tax wastage is only set to increase further in the future after the chancellor announced in 2010 that the threshold would remain frozen for four years at £325,000 rather than rising in line with inflation.
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