Life is always unpredictable – which is why ensuring you have both long term and short term protection for your family is vital.
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All posts tagged: IHT liability
Accidental inheritance – leaving your money to the wrong people
More complex family structures mean people are at risk of losing track of who will inherit their pension and insurance plans.
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How to save on your Inheritance Tax
Inheritance tax, or IHT, is the tax we never have to pay. However, although we do not pay it ourselves, it can take a chunk out of what our loved ones receive – because it is levied on the property, money and possessions we want to leave them. At 40% of everything past the £325,000 IHT threshold (tax year 2020/2021), it can be a very large chunk.
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What is going to happen to Inheritance Tax?
Inheritance tax, or IHT, is the tax we never have to pay. However, although we do not pay it ourselves, it can take a chunk out of what our loved ones receive – because it is levied on the property, money and possessions we want to leave them. At 40% of everything past the £325,000 IHT threshold (tax year 2020/2021), it can be a very large chunk.
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Protection for your family
Life is always unpredictable – which is why ensuring you have both long term and short term protection for your family is vital.
Read more