Currently browsing Inheritance Tax

UK Tax Reform: A Breakdown

5th September 2018

April 2017 saw a barrage of UK tax rules take force, including a clamp-down on the number of years resident non-domicile status can be claimed, and harsher, more regulated treatment on selected offshore arrangements which were often used to avoid encountering Inheritance Tax (IHT). As you will see from... read more

Posted in: Inheritance Tax, Tax

Inheritance Tax Revenue Breaks £5 Billion

13th August 2018

UK Inheritance Tax (IHT) revenues have broken the £5 billion mark, totalling a hefty £5.2 billion this year, up from a £4.7 billion last year. With an ageing population, increasing property values and fairly static allowances IHT revenues look set to grow and grow. Within the latest government report,... read more

Posted in: Estate Planning, Inheritance Tax

Common-Law Marriage – Will my Partner Benefit?

14th February 2018

The phrase ‘common-law marriage’ tends to be a familiar one and refers to a situation in which a couple is considered married, without having formally registered their relationship. When considering estate planning though there is a misconception that if you live with someone, your assets will simply pass to your... read more

Posted in: Estate Planning, Inheritance Tax

Can a Will be Challenged?

7th December 2017

A Will is the best possible way to ensure that your assets are distributed precisely according to your wishes after you pass away. Nonetheless, there are a number of different factors which can allow for it to be challenged. The main reason is a ‘lack of testamentary capacity’ –... read more

Posted in: Estate Planning, Inheritance Tax

Inheritance Tax Webinar

22nd November 2017

In 2015-2016 over £4.7 billion was paid to the UK Government in Inheritance Tax (IHT). Unsurprisingly then, IHT can be a worry, but not necessarily one that has a general solution. In our webinar, Jeremy Woodley, Director of The Fry Group, discusses various strategies of approaching IHT. If you... read more

Posted in: Inheritance Tax, News, Pensions

An Update on Changes to Domicile Rules

17th July 2017

Changes to domicile rules are on their way. The Financial Secretary to the Treasury has released a written statement regarding changes to domicile rules. In this statement it’s made clear that the items dropped from the Finance Bill on the calling of the General Election will be reintroduced in... read more

Posted in: Capital Gains Tax, Inheritance Tax, News

Updated Inheritance Tax Guide

19th April 2017

Introducing our new Inheritance Tax Guide. In 2015-2016 over £4.7 billion was paid to the UK Government in Inheritance Tax (IHT) revenues. Prior planning and preparation can significantly reduce the amount you pay. We have created an easy-to-follow guide to help you understand and reduce Inheritance Tax, and help... read more

Posted in: Financial Planning, Inheritance Tax, News

Understanding and Reducing Inheritance Tax

1st December 2016

£4.6 billion was paid in Inheritance Tax (IHT) revenues last year, and by 2020 one in 10 estates could be charged IHT. Inheritance Tax is charged on your estate when you die, at a flat rate of 40%. With the current threshold sitting at £325,000 a great many people... read more

Posted in: Inheritance Tax, Tax