News Tag Results for "Inheritance Tax"

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2096
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Budget Update - Capital Taxes

Budget Update - Capital Taxes   Capital Gains Tax Rates and Thresholds The rates and thresholds for capital gains tax are as follows for 2011/12: Annual exemption - £10,6... more


1044
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Capital gains tax implications on inheritance example

Q. My mother died last year and left my brother and me a commercial business unit. Probate is nearly complete now. If we sell the property in the future, what are the capital gains tax implications... more


1567
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IHT on Main Residence Nil-rate Band and Downsizing Proposals

IHT on Main Residence Nil-rate Band and Downsizing Proposals HMRC have published a technical note covering the proposals, announced in the Summer Budget 2015, to phase in a new residence nil-ra... more


1664
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IHT Relief on Business Assets

IHT Relief on Business Assets Inheritance tax (IHT) is payable at 40% on the net value of the assets you own when you die, plus (to a certain extent) on the value of the gifts you made in the s... more


491
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IHT: changes to Residence Nil Rate Band

Minor technical amendments are to be made to the residence nil rate band (RNRB) for IHT purposes. The amendments seek to clarify the working of the downsizing rules and provide certainty over when ... more


1616
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Individuals

Individuals Personal allowances  Immediate changes    2014/15 2015/16 Born after 5 April... more


32
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Inheritance Tax - Why Giving Away Money Can Mean More for the Beneficiaries’

Inheritance Tax - Why Giving Away Money Can Mean More for the Beneficiaries’ In most cases, it doesn't make sense to simply give away money to save tax during a person's lifetime.... more


1462
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Inheritance tax on the family home

Inheritance tax on the family home   Currently, inheritance tax is charged at 40% on estates over the tax-free allowance of £325,000 per person. Married couples and civil partner... more


1971
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Leaving it to Charity

Leaving it to Charity If you haven't made a Will, you should do so without delay. If you don't have any relatives you want to leave your estate to, consider making a Will that leaves mo... more


767
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Property - IHT: main residence nil-rate band

Property - IHT: main residence nil-rate band From April 2017, each individual spouse or civil partner will be offered a residence nil rate band (RNRB), which is designed to help pass on a ... more


673
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Q. How is an estate valued for inheritance tax purposes?

Q. How is an estate valued for inheritance tax purposes? A. Inheritance tax on death will be calculated on the net value of the estate. The net value of an estate is effectively assets les... more


555
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Q. My grandmother died on 3 May 2017. Her estate on death includes 12,000 ordinary shares in XYZ plc

Q. My grandmother died on 3 May 2017. Her estate on death includes 12,000 ordinary shares in XYZ plc, a company listed on the London stock Exchange. The closing prices at the date of her death show... more


1164
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Reforms to the taxation of non-domiciles

Reforms to the taxation of non-domiciles The existing inheritance tax (IHT) deemed domicile provisions for individuals are to be aligned with the proposed changes for income tax and capital gai... more


69
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Spring Budget 2021 - Inheritance Tax

Inheritance Tax The tax rates and nil rate band for Inheritance Tax purposes remains the same until April 2026.   The nil rate band will remain at £325,000 and the residence ... more


356
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Summary on making use of gift exemptions....

Summary on making use of gift exemptions for IHT According to a recent survey undertaken on behalf of HMRC, only 25% of people making financial gifts have a working knowledge of inheritance tax... more