Posts tagged “Estate Planning”

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No changes in the Spring Budget for IHT

Posted on 25th March 2024

The Spring Budget announced to the uK parliament didn't include amendments to IHT

There were a lot of rumours ahead of the Spring Budget on 6th March about changes to inheritance tax (IHT).

Action was expected to make sure policy was clear ahead of the General Election later this year.

However, nothing was mentioned, leaving the government’s position unspecified despite other tax changes such as National Insurance Contributions (NICs). There were also changes to Child Benefit and VAT registration.

More people are leaving donations to charity in their Will

Posted on 25th January 2024

More people are leaving donations to charities in their Wills

Donations to charity have increased by over 40% in the last decade according to recent figures from Remember A Charity.

Even with cost of living increases, eight out of 10 said they were likely to leave a charitable legacy. Twice as many people said they were more likely to give than last year. Almost a third of UK donors aged over 40 say they have or intend to include a gift to charity in their Will.

How to reduce Inheritance Tax: Regular financial support for your children

Posted on 13th November 2023

You can give gifts to family members out of your excess income.

You can make regular payments to your children out of your income which can help reduce Inheritance Tax (IHT).

Should I make my Will online?

Posted on 24th July 2023

We’re all learning to use technology in our daily lives, from banking, reading the news or looking for a dinner recipe. Should we make our Wills online too?

Here are some things you should know.

Laptop with government website Wills page

Councils can claw back care fees

Posted on 26th June 2023

Did you know that your local council can claw back money it provides for your care fees?

It can do this if it believes you gave away assets to avoid paying the full cost of your care.

If you need residential care your council could claw back the cost - older couple looking out of a windows

Write a will – the best legacy you can leave for your loved ones

Posted on 15th June 2023

We will all pass away one day. One of the best things we can leave behind for our loved ones is a carefully considered Will that clearly explains our wishes.

Will the government cut inheritance tax?

Posted on 27th April 2023

It has been reported the government is considering a cut in Inheritance Tax (IHT) before the general election.

Figures from HM Revenue & Customs (HMRC) show that government income from IHT was approaching £1billion higher in February than in the same period last year.

Money and property are subject to inheritance tax.

Plan today to reduce tomorrow’s inheritance tax

Posted on 25th November 2022

When you die your family could need to pay inheritance tax (IHT) on your estate. However, with some estate planning in advance you can help to reduce the amount of IHT due.