UK & Cypriot Wills and Legacy Planning News

This article examines the current structure of inheritance tax in the UK and outlines changes that may be proposed in the upcoming Budget.

In the last 20 years the number of people over the age of 70 cohabiting with partners has increased, potentially putting their homes at risk

Potentially Exempt Transfers enable individuals to give gifts exempt from UK Inheritance Tax if they survive for 7 years afterwards.

There are tax advantages in passing on wealth during lifetime, especially if the parent is UK domiciled or is somehow subject to UK IHT.

When a British expat remains UK domiciled, it can result in their estates being liable to UK Inheritance Tax (IHT) at 40%.

Leaving a part, or your entire estate to charity can reduce, and in some situations, eliminate the Inheritance Tax liability entirely.