Tag: inheritance tax

HMRC changes IHT form for gifts made 7 years before death

HMRC has released a new version of IHT403. The form is a supplementary form to the main inheritance tax account, IHT400. It has to be submitted whenever a deceased person made a gift (money, land or other assets of value) in the 7 years before they died unless the...

Residence Nil Rate Band Is Now £125,000 But Will You Get It?

The Residence Nil Rate Band (RNRB) is now £125,000 but the question is, have you organized your affairs to ensure you will benefit? Or do you have provisions in your Will that mean your estate will not have the additional £125,000 free of inheritance tax? Are you unwittingly arranging...

Ken Dodd’s Revenge on the Tax Man

Much loved British comedian, Sir Ken Dodd, died recently but it was what he did on his deathbed that grabbed the headlines. As tributes flooded in, estate planning professionals like me were chuckling over his last minute goal against the tax man. On trial for tax fraud in 1989...