Families and individuals who ‘gift’ money to their children, grandchildren, friends or others need to be aware of the complex rules surrounding gifting and Inheritance Tax (IHT).
Pension investors urged to set-up LPAs
Retirees who invest their pensions in income drawdown schemes are being urged to consider the importance of setting up a Lasting Power of Attorney (LPA) after it emerged that thousands of Britons who have not done so are exposing their loved ones to ‘costly ordeals’ if they fall ill.
Inheritance Tax advantages for married couples
With reports of the royal wedding dominating headlines this week, there is a strong focus on marriage across the press and the media. But experts are reminding Britons that while most people marry for love, tying the knot also enables couples to enjoy a number of significant tax advantages.
Resolution calls for radical IHT reform
In recent days, prominent think tank Resolution has called for a radical new system to replace the UK’s existing Inheritance Tax (IHT) regime, amid concerns that more needs to be done to tackle intergenerational inequality.
Majority of retirees worried about care home fees
A new study carried out by equity release company Age Partnership suggests that more than half (57 per cent) of retired Britons are worried about the rising costs of elderly care and the fact that only limited funding is available to them.