Tax and Allowances

With inheritance-tax reforms ahead, more families are gifting wealth early. Learn how to give safely, avoid living-trust pitfalls, and protect both your assets and your independence.

Clear guide to the Residence Nil Rate Band: who qualifies, £2m taper, transferable allowance, downsizing, and how to claim.

A clear guide to the 7-year inheritance tax rule: how gifts are treated, when taper relief applies, and how families can reduce tax with careful planning.

Inheritance tax can cost loved ones £100,000s when you die, with it generating £7 billion for HM Revenue & Customs in one recent tax year alone. But in reality the vast majority of people (around 96%) don't have to pay a penny, while the few who do can legally avoid huge swathes of it. This guide runs through five inheritance tax need-to-knows.

2024 has been a pivotal year in the landscape of wills and estate planning. We can reflect on the changes made throughout the year and there have been a number of key developments. This article delves into these developments and their implications.

If someone dies and their estate is worth more than the basic Inheritance Tax threshold, their estate may qualify for the residence nil rate band (RNRB) before any Inheritance Tax is due.