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).
What happens if I lose my mental capacity?
In life, we never quite know what’s around the corner. According to the latest figures from the Alzheimer’s Society, there are currently some 850,000 people who have been diagnosed with dementia in the UK – a number which it estimates will hit one million by 2025.
Britons urged to share experiences of IHT in online survey
In recent days, the Office of Tax Simplification (OTS) has launched an online survey urging Britons to share their experiences of Inheritance Tax (IHT) and consider whether they feel IHT ought to be simplified or reformed in the years ahead.
What you need to know about the Power of Attorney refund scheme
In recent weeks, the Ministry of Justice (MoJ) has unveiled a refund scheme affecting anyone who was overcharged for Lasting Power of Attorney (LPA) or Enduring Power of Attorney (EPA) fees between 1 April 2013 and 31 March 2017.
UK adults expecting to pass on multi-million pound legacies, study finds
Hundreds of UK adults are expecting to pass on multi-million pound legacies when they die – yet many families are overlooking the Inheritance Tax (IHT) implications of doing so, research suggests.