Inheritance Tax (IHT) is not a popular topic of conversation, but it’s an essential one. IHT is a tax that applies to people’s assets when they die, and if you’re not careful, it can significantly reduce (40% after allowances) the value of the assets you leave behind for your loved ones. Unfortunately, just under half of…
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Are you aware of the latest ruling from HM Revenue & Customs regarding Inheritance Tax (IHT) and domicile? In the recent decision, HMRC brought a court claim against an individual they believed had wrongfully listed their father’s domicile as being outside of the United Kingdom to avoid paying IHT. All those paying or expecting to…
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You may or may not know that receipts from inheritance tax payments are still on the rise. Recent figures published by HMRC show that an increasing number of families in the UK are now paying more inheritance tax (IHT) than before, and this trend is likely to continue. The HM Revenue & Customs (HMRC) report…
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