Could you claim an inheritance tax refund on shares that dived in value? You may claw back substantial sums – but you’ll also lock in losses Some could have ‘overpaid’ inheritance tax when shares were at peak value Inheritance tax is calculated on the value of assets on the date of death It is 40% … Read more
The confusing array of inheritance tax rules on giveaways to loved ones should be swept away and replaced with a single ‘personal gift allowance’, say Government officials. The ‘seven-year’ rule for large gifts, which means that if you survive the money gradually becomes free of inheritance tax, should be axed in favour of a set … Read more
My husband and I are in our early 60s and have recently retired. We have paid off the mortgage on our home, which we think is worth around £600,000. Our other assets (mainly investments) are worth around £500,000, including a £100,000 investment, which we made recently, having been told it would be free of inheritance … Read more
Inheritance tax ‘loophole’ that allows wealthy families to avoid levy by investing in farmland could be closed in Chancellor Rishi Sunak’s Budget Currently people can invest in assets and their children don’t pay inheritance tax The rules exist to allow family-owned businesses or farms to be passed on However, some critics say this is simply … Read more