Inheritance Tax Archives - Page 2 of 6

Inheritance Tax

Kwil Review - The smartest way to do a will?

By Marc Shoffman

17 min Read 09 Jul 2020

Writing a will is one of the most important documents you could ever compile as it sets out your final...

Inheritance Tax

The best online will writing services in the UK

By Liam Fahy

9 min Read 26 Jun 2020

In this article we look at the best online Will writing services in the UK. We explain ways in which...

Inheritance Tax, Resources

Farewill Review - The smartest way to do a will?

By Marc Shoffman

25 min Read 25 Jun 2020

In this independent Farewill review I look at the services they offer, how much Farewill costs, its pros and cons...

Inheritance Tax

What happens if I die without a Will?

By Liam Fahy

11 min Read 05 Feb 2020

What is a Will and do I need one? A Will is a legal document that sets out what is to happen to your estate when you die. As well as dealing with the financial aspects of your estate a Will can also detail what is to happen to any...

Inheritance Tax

Who can inherit if there is no will – the rules of intestacy explained

By Liam Fahy

12 min Read 05 Feb 2020

What is intestacy? If someone dies without a valid Will then they will be known as having 'died intestate' and their estate (money, property and belongings) must be distributed according...

Income Tax, Inheritance Tax, Quick Savings, Tax

New tax year changes for 2019 - how will they affect me?

By Andy Leeks

4 min Read 12 Apr 2019

On the 6th April 2019 we moved into the new 2019/2020 tax year. Every year we see changes to thresholds and rates and this tax year is no different. In...

Tax Mitigation, Inheritance Tax, Ask Damien

Reader Q: If I give my kids £90k will they be hit with an Inheritance tax bill if I die?

By Damien Fahy

5 min Read 05 Dec 2017

Reader Question: How can I give money to my children without paying inheritance tax (IHT) Can I give cash to my family before I die without any comeback to my family? We have approx £80- 90K My response: When you say any comeback, from whom do you actually mean? I'm...

Inheritance Tax, Tax

Here's what you should be doing NOW about inheritance tax

By Damien Fahy

6 min Read 04 Dec 2017

Throughout my career in financial planning I've always been struck by the lack of planning when it comes to passing money on to children and the next generation. There is...

Insurance, Tax Mitigation, Inheritance Tax

Life insurance and Inheritance Tax

By Liam Fahy

2 min Read 02 Dec 2017

Life insurance and Inheritance Tax When assessing the potential inheritance tax liability on your death it makes sense to consider life insurance as a method of protecting your estate from inheritance...

Inheritance Tax

Inheritance tax planning: How to pass on your wealth without paying inheritance tax

By Damien Fahy

5 min Read 01 Dec 2017

Inheritance tax earns the UK Government around £3.4 billion a year in revenue and this figure is set to increase. Part of the reason why the amount is so large is that inheritance tax is applied at a rate of 40% to individual estates over £325,000 in size. To put that into...

Inheritance Tax

Quickly find out your potential inheritance tax bill

By Damien Fahy

3 min Read 13 Jun 2017

The average Inheritance Tax (IHT) bill in the UK is a staggering £170,000, yet reducing your liability is often simple. Ironically most people don't even know their own potential IHT bill until...

Inheritance Tax

Can I use the Inheritance Act to claim for lack of dependant provision?

By Liam Fahy

2 min Read 23 Feb 2016

Generally speaking we are free to dispose of our assets as we see fit when we die, however, the law does provide provision for people who have been financially dependant on the deceased. The Inheritance (Provision for Family & Dependants) Act 1975, commonly known as the Inheritance Act is designed to...

Inheritance Tax

Who pays inheritance tax?

By Liam Fahy

3 min Read 23 Feb 2016

Inheritance tax is paid if a deceased's estate is worth over £325,000 at the time of death. The figure of £325,000 is known as the 'inheritance tax threshold'. Any amount above the threshold will be liable to inheritance tax at the rate of 40%. There are some simple ways in...

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Inheritance Tax

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