Select the Above Options for Information on Avoiding
Research the whole taxation gamut,
from capital gains tax to UK inheritance tax.
IHT - PLANNING TO MITIGATE
Planning to Mitigate the Impact of IHT?
It is central to
English Law, that it is possible to “arrange ones affairs to reduce the amount
of tax that has to be paid” however, it is generally accepted that IHT is one
of the most difficult taxes to mitigate. UK legislation has been written over the last 20 or so years that mean that if you
make a gift, it has to be a proper gift, so that you can no longer benefit from
what you have given away. This is because people were trying to give assets away to reduce their IHT liability,
but still benefit from them in some way.
We will briefly
look at some of the more common ways in which IHT can be reduced.