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Whether you’re looking to help your clients plan for the future, or want to learn more about inheritance tax, we have articles and other resources that can help with this.
In the Autumn 2024 Budget statement, the government announced its intention to bring unused pension funds and death benefits within the value of an individual’s estate for inheritance tax purposes from 6 April 2027.
One of the changes announced in the Autumn Budget 2024 was to the inheritance tax business relief. Below is our understanding of the change and the impact on business owners
UK inheritance tax being based on domicile is changing from 6 April 2025. Instead, whether an individual pays UK inheritance tax (IHT) will be based on residence.
In the Autumn 2024 Budget statement, the government’s made a number of announcements about inheritance tax. here we look at some of the questions we've been asked following the announcement.
In this article we explain what direction means when applied to the payment of pension death benefits and the reasons why you would use that rather than discretion.
This article describes how discretion works and how a nomination form (expression of wish) can be used to let the scheme administrators/trustees know the individual’s wishes as to whom death benefits should be paid to.
What are the differences between individual savings accounts and pensions when it comes to inheritance tax?
Pensions are not normally subject to inheritance tax. However, there are certain circumstances when the value of the death benefits will count towards any inheritance tax payable by the estate.
A spousal bypass trust is a discretionary trust where an individual can place their lump sum death benefits. It is sometimes called a flexible trust.
In this case study we look at the benefit of setting up a trust to receive pension death benefits.
We know it can be tough to talk about Inheritance Tax with your clients, so we’ve created a toolkit to answer all your inheritance tax questions.
A guide to inheritance tax planning using whole of life.
Rysaffe planning can be used to remove or reduce charges by placing pure protection plans into smaller discretionary trusts on consecutive days. Here we explain how this works
Gifts made to anyone from your client’s estate are exempt from inheritance tax provided that they survive for a period of 7 years from the date the gift is made. Here we explain how this works.
The Finance Act 2013 introduced a change which limits the deductibility of debts in certain circumstances. Here we explain the changes.
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. Here we explain how this works.
Trusts can make sure the money from a client's plan ends up in the right hands, at the right time, quickly and tax efficiently.
Join Fiona Hanrahan and Gregor Sked as they explore planning for pensions and protection for clients heading into or currently in later life.
Join Fiona Hanrahan and Gregor Sked, Senior Technical Managers, where they’ll talk over dispelling myths around trusts in both the protection and pensions industries.
Inheritance tax is a tax on the estate of someone who has died. This includes money, property and other assets. The standard inheritance tax rate is 40% of anything in the estate over the £325,000 threshold.
There’s no inheritance tax to pay on gifts between spouses or civil partners. A spouse or civil partner can give their partner as much as they would like during their lifetime, as long as they live in the UK permanently and are legally married or in a civil partnership.
On the 6 April 2017 the residence nil-rate band was introduced. This is an additional threshold for inheritance tax planning above the current inheritance tax threshold.