How to use your pension to solve your Inheritance Tax problem

Tax increaseInheritance Tax (IHT) has often been regarded as a voluntary tax. But with George Osborne freezing the threshold at £325,000 per person until 2019 and other loopholes being closed, now is the time to consider how you will leave as much money as possible to your loved ones. IHT is payable at a rate of 40%, when a person’s estate is valued at above £325,000 or £650,000 for married couples and people in a civil partnership. The traditional options for ...

6 tips to avoid paying Inheritance Tax

6 tips to avoid paying Inheritance TaxIn 2007 George Osborne announced his intention to increase the nil rate band, the amount you can leave in your estate without paying Inheritance Tax, to £1 million. Fast forward six years and the government has announced that to help meet the cost of changes to how long term care is paid for, the nil rate band will be frozen at £325,000 until 2019 at the earliest. If the nil rate band had been increased to £1 million, ...