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Tag Archives: Inheritance Tax

When is a gift not a gift?

If I gave you one of my pens and then took it back from you and continued to use it, would that still be a gift?  What if the gift were a piece of art worth £250,000?   I say to my friend “I give you my painting in my living room” but I continue to keep it on my wall. Would that be a gift? The truth is that the pen …Read More

With this Nil Rate Band, I Thee Wed

Weddings and funerals are inextricably linked – by tax. When a couple get married, they are already having an impact on how much inheritance tax they will pay. Each and every person is entitled to a nil rate band of £325,000. If the full nil rate band is available, this means that the first £325,000 of any deceased’s estate incurs inheritance tax at 0%. The value of the estate in …Read More