Summary
Similarly, nothing could be simpler than making regular use of annual exemptions from IHT. Everyone is allowed to give away up to £3,000 a year to anyone -- or a trust -- of their choice. It is important to understand that this exemption is a case of 'use it or lose it'. Any unused exemption from the previous tax year can be carried forward to the current tax year but no further.
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Extract
Don't Leave It All to Gordon by Mistake
If there is one thing worse than paying inheritance tax, it is discovering at the graveside that an expensive IHT-avoidance scheme has proved a waste of money, in addition to what you are going to have to pay HM Revenue & Customs anyway.
A family friend had that infuriating experience recently, and many more widows -- for it is usually the wife ...See the full content of this document
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