Inheritance Tax | Finance

New inheritance tax planning tool

Property value growth means tens of thousands more Britons face hefty inheritance tax bills and Budget changes have made it more difficult to plan for inheritance tax using most trusts.

Standard Life announces expansion of trust range

Standard Life has announced the expansion of its trust range with the launch of a Discounted Gift Plan Absolute Trust, giving more choice of trusts for advisers and clients.

Tomorrow’s 21 year olds set to inherit the keys to the door

Two thirds of UK adults (60%) think their children should not inherit aged 18 but should wait until they are 21 or over, according to research by Saga Will Writing and Estate Planning Services. However, a massive 83% of people were unaware that, under new IHT laws, if offspring do not inherit from a trust at 18 years of age then they will now be taxed.

Standard Life welcomes plans to increase IHT reporting limit

Standard Life has welcomed the announcement that HMRC intends to increase the inheritance tax reporting limit for certain types of gift in tax year 2007-08, from £10,000 to £200,000.

The £103 billion inheritance tax giveaway

As more people are caught out by inheritance tax than ever before, due to increased wealth and rising house prices, Scottish Widows research reveals Brits are well aware they can’t take it with them when they’re gone, and are planning on giving away £103 billion to friends and family to avoid a huge tax bill on their death.

Bring inheritance tax in line with house price inflation

The National Association of Estate Agents (NAEA) has reiterated its concern over inheritance tax (IHT) and the Chancellor’s plans to increase the nil rate threshold by a minimal amount over the next four years.

Chancellor gets sums wrong on IHT projections, says Way Group

A prediction by the Chancellor that around six per cent of UK estates are likely to be caught in the inheritance tax (IHT) trap by 2010 is deliberately misleading, according to fund manager The WAY Group.

Brits waste £1.5 billion in inheritance tax

UK taxpayers are wasting millions of pounds due to poor IHT planning according to annual research by Unbiased.co.uk.

Inheritance tax and Stamp Duty - the key facts from the Halifax

Property tax revenues - including inheritance tax and stamp duty - in the UK are the highest (along with the US) in the OECD. Property taxes as a percentage of total taxes in the UK have risen from 10.4% in 1995 to 12.0% in 2004 according to the latest statistics. The average for the Euro-zone is 5.3% and the UK's 12.0% compares with 8.1% in Spain, 7.6% in France and 2.5% in Germany.(source: OECD).

Friends Provident widens choice for IFAs on IHT Planning

Friends Provident, the FTSE 100 life and pensions company, has added a bare trust to its Discounted Gift Plan (DGP) in a move to provide wider flexibility to IFAs and their clients for inheritance tax planning (IHT) purposes.

Inheritance tax issues for British expatriates in Spain

With 75,000 UK pensioners currently living in Spain, the subject of Inheritance tax for British expatriates is one that needs to be given careful consideration, says Bank of Scotland International.

Standard Life’s Gift Plan celebrates second birthday

Standard Life Assurance Limited’s Gift Plan is celebrating its second birthday.

AEGON Scottish Equitable asks, when is tax free not tax free?

AEGON Scottish Equitable warns of inheritance tax threat from so called ‘tax free’ savings products.

Young Brits fear inheritance debt bombshell

Gone are the days when mum and dad could bank on a family inheritance to clear the mortgage. New research from AA Legal Services reveals that seven in ten young Brits (70%) most fear inheriting a mountain of debt when their parents pass away.

You don't have to be rich to face Inheritance Tax

Many people mistakenly think inheritance tax is solely the preserve of the rich and won’t affect them.

Take these steps to manage inheritance tax

Inheritance tax (IHT) is a problem for many estates – but good financial advice and planning can cut the amount that goes to the taxman.

Where there’s a will there’s a way

Two in three people in the UK have no will, according to the latest findings from Barclays Wealth.

Reduce IHT Liability with a Discounted Gift & Income Plan

Clerical Medical is launching a new investment guide for advisers to help their clients reduce their inheritance tax (IHT) liability with a Discounted Gift & Income Plan (DGIP).

You don’t have to be rich to face inheritance tax

Many people mistakenly think inheritance tax is solely the preserve of the rich and won’t affect them.

40% Inheritance Tax – That’s a lot to digest!

Skipton Financial Services Limited (SFS) are pleased to announce the launch of another partnership, this time with The Readers Digest.

Time to start inheritance tax planning

UK house price inflation and increasing personal wealth are sucking more and more estates into the inheritance tax (IHT) net, warns financial research company Defaqto.

Yorkshire Building Society urges people to keep it in the family

Yorkshire Building Society has launched a campaign to raise awareness of how ordinary people are getting caught by a tax that was once considered the tax of the rich – Inheritance Tax (IHT). The ‘Keep it in the Family’ campaign, which runs until 10th September, aims to highlight the many different, legitimate, ways individuals can either reduce their Inheritance Tax bill or avoid it all together.

Standard Life launches Estate Planning Solutions Pack

Standard Life is launching a new information pack aimed at demystifying estate planning for financial advisers and their clients.

Pick up a free Inheritance Tax guide

With Inheritance Tax affecting more and more of the population, Bradford & Bingley believes UK homeowners should consider planning what will happen with their estate.

James Hay: Proposed inheritance tax reforms

Liz Henderson of James Hay’s Technical Unit comments on the proposed inheritance tax reforms announced by the Conservative Party.

Zurich sponsors IHT planning tool

Zurich has sponsored a new handbook on Inheritance Tax and Estate Planning entitled “Inheritance Tax Simplified”.

James Hay: Proposed inheritance tax reforms

Graeme Robb of James Hay’s Technical Unit comments on the proposed inheritance tax reforms announced by the Conservative Party.

Standard Life: “Freeing Britain to Compete” IHT proposals

On 17 August 2007 the Economic Competitiveness Policy Group (ECPG) published its 211 page report looking at equipping the UK for globalisation.

AEGON: Conservatives’ proposals to abolish IHT

AEGON’S technical manager, Margaret Jago comments: “In 2002 the number of people with estates over the IHT threshold was around two million.

Spring clean your estate planning, advises Standard Life

Despite a will being the key part of everyone’s overall financial and estate planning, the most recent Wills and Trusts Research Report from Standard Life has revealed that people are still not putting their personal affairs in order.

Three out of four Brits have no will power

Three quarters of people in the UK (74%) do not have a will, leaving their families walking a financial tightrope when they die, new research from Friends Provident, the FTSE 100 life and pensions company, has revealed.

Independent research puts Rensburg Sheppards on top

The Inheritance Tax Planner portfolio service from Rensburg Sheppards has beaten 21 other providers for performance and service to claim first place, according to a new research report conducted by the Tax Efficient Review.

More people being caught by IHT due to rising house prices

The average detached house price in Greater London is now £588,604. It is therefore easy to see why the Conservatives feel that this tax is unfair and why they are advocating that the threshold should be increased from £300,000 to £1,000,000. In 2001-2002, the Revenue collected £2.35 billion in IHT and the projected figure for 2007-2008 is around £4 billion.

Britons still not waking up to IHT alarm bells

Alarming numbers of Britons are continuing to ignore high-profile media campaigns urging them to mitigate against Inheritance Tax (IHT), a blunder that could result in their grieving families receiving a hefty upfront bill from the taxman when they try to claim their inheritance.

When is tax free not tax free?

AEGON Scottish Equitable is warning advisers to be aware of their clients' potential inheritance tax liability that may be incurred if they have amassed a large portfolio of tax free savings such as PEPs and ISAs.

CTC continues to offer a proven IHT mitigation product

The Close Trading Companies (CTC) team at Close Investments, believe that investors are continuing to seek proven methods to mitigate their IHT allowance.

Scottish Life International draft trusts remain beneficial

Scottish Life International has evaluated its range of draft trusts and is pleased to announce that they remain appropriate in the post budget environment.

Take advice or lose new inheritance tax benefits

AXA Wealth Management warns that many couples could lose the benefits of the new transferable nil rate tax bands for inheritance tax, if the new rules are not fully explained.

Standard Life welcomes 30-fold increase to IHT reporting limit

Standard Life has welcomed the publication of new IHT regulations which will greatly simplify the compliance and reporting involved for many lifetime gifts.

Tory IHT promise likely to lead to planning complacency

Inheritance Tax planning specialist and wealth manager WAY Fund Managers Ltd has issued a red alert to households believing they will escape IHT in the event of a Tory government raising the IHT threshold to £2m.

Lincoln launches new Discounted Gift Bond

Lincoln Financial Group announces the launch of its new Discounted Gift Bond. The bond is linked to a Discounted Gift Trust and offers an effective inheritance tax planning solution where settlors can move money out of their estate whilst still retaining an income.

AXA launches Estate Planning Account

AXA Wealth Management has added the Estate Planning Account with guarantees to its range of offshore propositions.

SIPP By-Pass Trust from Fidelity aims to cut IHT liabilities

Fidelity FundsNetwork has launched a SIPP By-Pass Trust to help advisers tackle the increasingly complex tax burden faced by their clients. Designed to be used in conjunction with the FundsNetwork SIPP, the By-Pass Trust can protect a client's SIPP lump sum death benefits from a future charge to IHT on the death of their spouse. The trust can be established at the same time as setting up a SIPP or at any pre-retirement point thereafter.

Standard Life helps individuals protect investments from IHT

Standard Life has widened its estate planning proposition by increasing the investment options available within its Gift Plan.

Brits lack IHT awareness

Brits are failing to protect their wealth through effective tax planning, according to research from Zurich, the life insurer.

SFS warns of perils of non bonafide IHT planning

Skipton Financial Services has warned anyone considering illegal disposal of assets from their estate, following the Government's announcement that HM Revenue & Customs will now be able to take longer than 60 days to potentially challenge an exempt estate for inheritance tax (IHT).

IHT planning more crucial than ever

The great bank bail-out and associated issues will have a direct impact on future government IHT planning, inheritance tax planning specialist and wealth manager WAY Fund Managers Ltd warned.

Rensburg Sheppards IHT AIM portfolio continues to hit the mark

Rensburg Sheppards' Inheritance Tax Planner (RSITP) has maintained its number one position in the latest review of AIM IHT managers by Tax Efficient Review, which covers the first half of the year to 30 June 2008.

UK tax payers waste more on IHT payments than any other tax

UK taxpayers are wasting millions of pounds due to poor IHT planning according to annual research by Unbiased.co.uk, the website promoting the benefits of independent financial advice.

Singles neglect estate planning

One in five single people do not have a will drawn up, risking their dying wishes being unheard and having their estate divided by the law, according to research from Standard Life.

Three out of five people in the dark about estate planning

More than a year after the introduction of the Inheritance Tax (IHT) transferable nil rate band (NRB), nearly three out of five people are still unaware of the new rules and the tax implications, according to research from Standard Life.

UK tax payers waste more on IHT payments than any other tax

UK taxpayers are wasting millions of pounds due to poor IHT planning according to annual research by Unbiased.co.uk. The research shows that the overall amount of unnecessary inheritance tax payments totaled £1.9 billion last year. The amount of wasted IHT payments has risen by 24 per cent compared to the previous year, 2007 equalling an increase of nearly £370 million.

WAY joins forces with EEA to launch US life settlement fund

WAY Fund Managers has announced it is teaming up with leading life settlement fund provider EEA Fund Management (Guernsey) Ltd (EEA) to launch its own class of the highly successful EEA Life Settlements Fund.

Standard Life highlights statutory IHT loss reliefs

"At a time when shares and property prices are continuing to fall, there are statutory Inheritance Tax (IHT) reliefs which should not be forgotten about" says Julie Hutchison, Head of Estate Planning with Standard Life