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You searched for the term IHT Your search returned the following 40 results...
 
  • Inheritance tax (IHT) and pension death benefits - Royal London for advisers

    Inheritance tax (IHT) and pension death benefits 17 May 2021 Pensions are always talked about as being ideal for IHT planning as they ‘re not normally subject to IHT - this makes them very attractive for clients who may be facing a huge IHT bill. Listen to our podcast with Clare Moffat and Fiona...

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    News

    Blog

  • How inheritance tax might work on transfer (Deceased estate taxed in Scotland) - Royal London for advisers

    How inheritance tax might apply to a pension transfer (deceased estate taxed in Scotland) Pensions are not normally subject to inheritance tax (IHT). However, there are certain circumstances when the value of the death benefits will count towards any inheritance tax (IHT) payable by the estate...

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    Case studies

  • How inheritance tax might work on transfer (Deceased estate taxed in England) - Royal London for advisers

    How inheritance tax might apply to a pension transfer (deceased estate taxed in England) Pensions are not normally subject to inheritance tax (IHT). However, there are certain circumstances when the value of the death benefits will count towards any inheritance tax (IHT) payable by the estate...

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    Case studies

  • Use our inheritance tax calculator - Royal London for advisers

    Inheritance tax calculator Calculates any potential IHT liability based on your client's assets and liabilities.   Assets Value of main home/residence £ Other property (second home, holiday home, business property / land, etc.) £ Cars, boats or caravans £ Household contents / personal effects...

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    Calculators

  • HMRC Trusts and Estates Newsletter - Royal London for advisers

    ...authorisation Complex estates GOV.UK guidance changes Finance Bill 2020 Electronic submission of IHT400 and IHT100 forms New clearance letter and process Operational update Confirmation of payee checks Estates and Capital Gains Tax Disposals Agent toolkits - annual refresh 2020 Trusts and estates...

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    Trusts

  • Transferring pensions in ill-health - Royal London for advisers

    Transferring pensions in ill-health 9 July 2021 If someone transfers from one pension scheme to another at a time when they know they are in ill-health, HMRC may treat this as a transfer of value and it could be subject to inheritance tax (IHT). IHT may apply even if the member opts for death...

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    Blog

  • Inheritance Tax Planning using protection plans - Royal London for advisers

    IHT planning using protection plans We know that it can be tough to talk about Inheritance Tax (IHT) with your clients, but we have all the tools you need to help support these conversations. IHT is a tax payable upon death or a transfer of assets on certain lifetime gifts. It's traditionally seen...

  • Death benefits: discretion or direction? - Royal London for advisers

    ...to someone. The process of choosing the beneficiary(ies) can either involve the scheme administrator using their discretion, or the member directing the choice before their death. The way the choice is made can affect the inheritance tax (IHT) payable on the benefits. Discretion The member can allow...

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    Information and guidance

  • OTS simplification of inheritance tax - Royal London for advisers

    OTS simplification of inheritance tax In July of this year, following its first report in November 2018, the Office of Tax Simplification (OTS) published its second report on the simplification of inheritance tax (IHT). This report sets out a number of recommendations for 'a more coherent...

  • What is a spousal bypass trust? - Royal London for advisers

    ...the death benefits falling into the surviving spouse’s estate and passing it on to next generation inheritance tax (IHT) free, while still allowing the spouse to make withdrawals from the trust. Why are spousal bypass trusts used? For more complex family circumstances where a simple nomination...

  • HMRC Inheritance Tax Manual - Royal London for advisers

    . Inheritance Tax Manual Royal London is not responsible for the content of external websites. IHTM17001 Introduction IHTM17011 Examining form IHT409 IHTM17020 Types of pension scheme IHTM17030 Pension scheme benefits IHTM17035 IHT exclusions IHTM17041 IHT charges IHTM17081 Relevant property charges...

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    Pension freedom

    Auto enrolment

    Information and guidance

    ...

  • Residence nil-rate band part 2 - Royal London for advisers

    Residence nil-rate band part 2 In part 1 we outlined the main rules for the new residence nil rate band (RNRB), an additional threshold for inheritance tax (IHT) planning. It is fair to say a simple concept has turned out to be a complex reality, which raises a number of planning questions...

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    Personal

  • Residence nil-rate band - Royal London for advisers

    Residence nil-rate band On the 6 April 2015 the residence nil-rate band was introduced. This is an additional threshold for inheritance tax (IHT) planning above the current IHT threshold. Tax rate Residence nil-rate band increase 2021/2022 £175,000 2020/2021 £175,000 2019/2020 £150,000 2018/2019 £125,000 2017/2018 £100,000     Share by email: Share by email:...

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    Rates and factors

  • Protecting a legacy – the opportunities available - Royal London for advisers

    Protecting a legacy – the opportunities available In this webinar, our Protection Specialist, Adrian Bates, takes a closer look at the opportunities available to you in the Inheritance Tax Planning (IHT) space and how you can engage with your clients on the benefits of using regular premium life...

  • Using a Whole of Life plan when inheritance tax planning - Royal London for advisers

    ...for your client to leave a lump sum for loved ones to pay the IHT liability where there are strategies in place to reduce that liability over time. How this could work in practice Mary is recently widowed and now having been left everything by her husband has an estate of £1.5m.  This consists of her house...

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    Personal

    Life Cover

    Trusts

    ...

  • Business protection - Shareholder protection – Wills - Royal London for advisers

    ...should write wills. Their shares will typically qualify for 100% business property relief for IHT purposes. A discretionary trust will allow a range of beneficiaries to get benefits from the trust. A bypass trust is a discretionary trust where the shareholder’s children and spouse/civil partner...

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    Business

    Key Person Cover

    Loan protection

  • Don't let death tax kill the romance - Royal London for advisers

    ...of the estate. Marriage & civil partnerships – all lifetime gifts and gifts on death to a spouse or civil partner are exempt from IHT (subject to being a UK resident). This means that the unused nil rate band and residence nil rate band can be transferred and used on second death. This can give...

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    Personal

    Life Cover

    Trusts

    ...

  • Death benefits: our top five frequently asked questions - Royal London for advisers

    ...are subject to income tax at the marginal rate of the beneficiary. The option to take a PCLS dies with the individual. If an individual directs who is to receive any benefits on their death rather than using discretion, are there any inheritance tax (IHT) consequences of doing this? As the individual...

  • Key person protection – Shareholder protection - Tax implications - Royal London for advisers

    , this represents a reciprocal commercial arrangement. So there’s no element of gratuity or gifting. What are the implications of using a discretionary business trust? The trust is subject to the ‘relevant property’ regime applying to discretionary trusts. This can result in immediate inheritance tax (IHT...

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    Business

    Key Person Cover

    Loan protection

  • Residence nil-rate band part 1 - Royal London for advisers

    Residence nil-rate band part 1 On the 6 April 2015 the residence nil-rate band was introduced. This is an additional threshold for inheritance tax planning above the current £325,000 threshold. Key facts The residence nil-rate band was introduced with effect from 6 April 2015. It is available to estates where the person dies aft...

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    Personal

  • Life cover for life - Royal London for advisers

    Life cover for life Jennifer Gilchrist 9 May 2016 When someone mentions whole of life plans, most people will think of a niche product that serves as an inheritance tax (IHT) planning tool for high net worth clients. And it’s really not surprising they’ve been pigeon-holed in that way, because...

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    Blog

  • Pre Budget Report 2007 - Royal London for advisers

    ...scheme) has been made in the last 2 years, or is about to be paid. 9 October 2007 Inheritance Tax and Alternatively Secured Pension If the IHT nil-band rate was not fully used when the original scheme member died, the same proportion that was unused can be added to the nil-rate band in force...

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    Information and guidance

  • Intergenerational pension planning - Royal London for advisers

    ...the opportunity to build your client bank and generate additional income for your business. Research has shown that: Helping clients with an inheritance tax (IHT) problem   Contributing into a pension on behalf of a child or grandchild is a great way to reduce IHT for your client's estate - it gives...

  • Inheritance tax and related manuals - Royal London for advisers

    ...the importance of inheritance tax planning. Importance of inheritance tax planning  (PDF) On the 6 April 2015 the residence nil-rate band (RNRB) was introduced. This is an additional threshold for inheritance tax (IHT) planning above the current £325,000 threshold. Here we explain how this works...

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    Personal

  • Deductibility of debts for Inheritance Tax - Royal London for advisers

    ...this.  For example But . . . For example, prior to the change, if someone borrowed money to buy shares in a private limited company and the loan was secured on their home, that loan would be deductible from the value of their home in calculating their IHT liability.  There was no contrived attempt to avoid...

  • Pension death benefits in trust case study - Royal London for advisers

    ...as this could form part of any divorce settlement. Henry’s adviser discusses using a flexible trust to receive the death benefits when he dies. The trust is set up during Henry’s life with a nominal gift of £10. This gift would normally fall under one of the inheritance tax (IHT) exemptions so no IHT would...

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    Case studies

  • 3rd Party Contributions - Saving for future generations pt I - Royal London for advisers

    ) then up to 100% of those earnings could be paid. If he was a higher rate taxpayer, Mark could claim higher rate tax relief based on his tax situation, not Lucy. Inheritance tax The contributions are classed as gifts for IHT purposes but the usual exemptions apply. £3,000 can be paid as an exempt...

  • Our trusts - Royal London for advisers

    Our trusts Setting up a trust is easier than you think. Business trust Used for a business protection plan (partner, member and shareholder protection) that’s being set up as an own life in trust arrangement. Gift trust Used for family protection or inheritance tax (IHT) planning and helps to avoid...

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    Trusts

    Business protection

  • Why choose our Pegasus Whole of Life Plan? - Royal London for advisers

    ...inheritance tax (IHT), providing for their families after they are gone or making sure their businesses are protected against their death.  We'll make it easy for you to offer a first class experience to your clients. Benefits of our Pegasus Whole of Life Stay flexible – your clients can increase...

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    Whole of life

  • Death benefits - Royal London for advisers

    (RNRB) was introduced. This is an additional threshold for inheritance tax (IHT) planning above the current £325,000 threshold. Here we explain how this works. Residence nil-rate band part 1 Residence nil-rate band part 2 Gifts made to anyone from your client’s estate are exempt from inheritance tax...

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    Information and guidance

  • Business protection - Partnership and membership protection - Royal London for advisers

    ...is tax efficient. In particular it’s important to make sure full advantage is taken of any business property relief (BPR) that may be available for inheritance tax (IHT) purposes. BPR is a valuable relief which is available on transfers of business property. It’s subject to certain conditions being...

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    Business

    Key Person Cover

    Loan protection

  • Helping clients help their families in lockdown - Royal London for advisers

    ...cruises a year, so are potentially spending around £20,000 a year. For clients who might have to decrease their drawdown income, this could be a welcome saving. But what about clients who have an inheritance tax (IHT) problem? Perhaps they're in final salary schemes and some of that income's now piling...

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    News

    Blog

  • 2021 - Royal London for advisers

    ...of pensions tax relief and what it could mean for their pension savings. Inheritance tax (IHT) and pension death benefits Pensions are always talked about as being ideal for IHT planning as they ‘re not normally subject to IHT - this makes them very attractive for clients who may be facing a huge IHT bill...

  • Death benefits from April 2015 - Royal London for advisers

    ...before their death. The way the choice is made can affect the inheritance tax (IHT) payable on the benefits. You can find out more about this in our article - Death benefits: Discretion or direction? Q1. If a 70 year old dies while in a drawdown pension, can their 80 year old friend Joyce, who...

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    Information and guidance

  • During your client meeting - Royal London for advisers

    ...calculator Use this calculator to show your clients how Income Protection could help them avoid a shortfall in their monthly income if they’re too ill to work. Inheritance tax calculator Calculates any potential IHT liability based on your client's assets and liabilities. Lifestyle calculator Use...

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    Tools and support

  • 3rd Party Contributions - Saving for future generation pt II - Royal London for advisers

    ...or the ‘normal expenditure from income’ exemption. The annual IHT saving would be 40% x £2,880 (pension contribution) = £1,152. Is Martin missing a generation? Saving for grandchildren is a great idea but Martin could also help his daughter Maria. She has an adjusted net income of £55,000. This means that she...

  • It’s all about trusts - Royal London for advisers

    ...on the estate. If a claim for £100,000 of life cover is made, and the plan is not in trust, the sum assured will pass into the client’s estate. If the value of their estate, including the £100,000 payout, is sufficiently large, they’ll pay Inheritance Tax (IHT) at 40% on every £1 above the current IHT...

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    Trusts

    Blog

  • Details of our Pegasus Whole of Life Plan - Royal London for advisers

    ...their cover for inheritance tax (IHT) planning or to cover an increase in their business’s value or certain business liabilities. However, if your client wants to increase the amount of their cover for any other reason, they may need to supply medical information. We won't pay a claim if: The claim...

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    Whole of life

  • Death benefits pre 6 April 2015 overview - Royal London for advisers

    , there was not normally any liability to inheritance tax (IHT) so long as the trustees decided who the lump sum was to be paid to and the lump sum death benefits were not paid to the deceased member's estate. If the member was 75 or over at date of death, the whole lump sum was subject to a 55% tax charge. IHT...

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    Information and guidance

  • Autumn Statement 2015 - Royal London for advisers

    ...individuals affected by the reduction in the annual allowance from 6 April from increasing contributions before the reduction applies.  However, as no such measures were included it still makes sense for those affected by the reduction to review their contributions before 6 April 2016.   IHT and undrawn...

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    Information and guidance

This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.