September 2015 Edition. Fully updated for the March 2015 Budget and the July 2015 Summer Budget.
Inheritance tax is a particularly nasty tax as it's a tax on your capital that you've accumulated from your after tax earnings.
It applies at 40% on the value of your estate above the nil rate band (currently 325,000). It's not just the assets held at the date of your death that are included, but also assets gifted away (in some cases) up to 14 years before.
In this book we look at some of the top ways you can legally reduce your inheritance tax liability.
There are a number of options and opportunities - from simply giving away assets to setting up a trust or emigrating from the UK completely.
Topics covered include:
How to reduce Inheritance tax on gifts How the exemption for normal transfers of income applies How the new 1Million allowance applies for your home When the 7 year period becomes a 14 year period What to do and when to avoid Inheritance tax Reducing IHT with the new 36% rate of Inheritance tax How to maximise tax reliefs for charitable giving Inheritance tax planning for joint bank accounts New rules for non doms from the 2015 Summer Budget Reducing Inheritance tax on insurance policies Putting life insurance into a flexible gift trust or bare trust to reduce Inheritance tax Using side letters for IHT purposes Inheritance tax planning for the family home Reducing tax on a property investment portfolio by using mortgages How to save substantial amounts of inheritance Tax on your investment properties Maximising tax Inheritance tax relief on your family company AIM shares & IHT relief Qualifying for Inheritance Tax relief on companies with large cash balances How the transferable nil rate band applies Using a Parallel Company to reduce Inheritance tax Reducing Inheritance tax with a double tax treaty A review of the UK-US Inheritance tax/Estate tax treaty UK inheritance tax and gifting cash abroad Emigrating from the UK to avoid Inheritance Tax"