Saving inheritance tax (“IHT”)
Posted by Justin on Apr 4, 2012 in Nelsons' Column | 0 comments The old system It used to be the case that, to use (rather than waste) the nil tax band for IHT (currently the first £325,000 of the estate), a gift of up to the amount of the nil tax band could be “hived off” – either outright to other beneficiaries or to a discretionary trust that could include the surviving spouse, children, grandchildren, etc as potential beneficiaries. The rest of the...read more