Contains all the latest inheritance tax planning information
How to Avoid Inheritance Tax
Proper inheritance tax planning could save your family hundreds of thousands of pounds.
This comprehensive and easy to read guide tells you everything you need to know about protecting your assets from the taxman.
It contains the very latest inheritance tax planning information, including all the changes announced in the March 2008 Budget and October 2007 Pre-Budget report.
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What Information is Contained in the Guide?
The guide is extremely comprehensive and contains numerous examples and clearly written explanations. It's the most up-to-date book on inheritance tax in the UK. Subjects covered include:
- All changes announced in the March 2008 Budget.
- Plain-English guide to calculating inheritance tax and how the tax works.
- Tax planning timetable: Steps to take at key points in your life to make long-term tax savings.
- Detailed list of completely tax-free amounts - these can save you literally thousands every year.
- How the £312,000 exemption can be used not just once but every 7 years.
- The new transferable nil rate band system brought in by the 2007 Pre-Budget Report explained in detail.
- How to make sure that you get full value out of the transferable nil rate band, worth up to £124,800 today and possibly much more in the future.
- Detailed analysis of how the new IHT rules affect married couples, including when to pass wealth to your children tax efficiently and when to hang on to your wealth.
- When and how to undo obsolete tax planning put in place previously.
- The special position of 'second time around' couples and how they can shelter up to £1,200,000 worth of assets from IHT.
- Important information to help widows and widowers work out where they stand after the latest Budget changes.
- How to use the little-known ‘regular payment’ method to pass unlimited funds to family members.
- More than a dozen inheritance tax planning techniques for protecting the family home.
- How to pass on investment properties worth up to £600,000 free from both inheritance tax and capital gains tax.
- Detailed analysis of the latest trust changes and their impact on popular tax planning.
- Plain-English guide to the various types of trusts: Discretionary Trusts, Interest in Possession Trusts, Life Interest Trusts, Bare Trusts, Bereaved Minor’s Trusts, ‘18 to 25’ Trusts and Disabled Trusts.
- How trusts can be used to slash your inheritance tax bill - with real-life examples.
- How to use Business Property Relief to pass unlimited assets to your family.
- Why this may be a really good time to pass on the family business and other business assets.
- How to get a double deduction for qualifying business property.
- How to make Lifetime Transfers in the most tax efficient way.
- Everything you need to know about Potentially Exempt Transfers, tax free after 7 years.
- Using family weddings to pass assets to children, future grandchildren and other family.
- Tax planning techniques for common law partners.
- Important steps to take to avoid capital gains tax when transferring assets to your family.
- How to plan for inheritance tax without causing financial hardship to yourself or your spouse.
- How hundreds of thousands of people in the UK with foreign domicile can protect their foreign assets from inheritance tax.
- How a couple, in the space of 48 hours, managed to give their children £20,000 tax free.
- Why it’s not too late even after death: The fabulous technique which enables families to save hundreds of thousands of pounds by making retrospective changes to their dear departed’s Will.
- What inheritance tax planning steps you should take when you lose a parent or spouse.
- How to keep control over your income when you give away capital.
- The fabulous AIM exemption: how to protect your wealth from inheritance tax after just two years.
- How you can knock up to 15% off your inheritance tax bill by simply changing the legal title you hold in your house.
- How to avoid IHT on valuable antiques, paintings, etc.
- How to avoid UK inheritance tax if you emigrate.
- How some people could avoid IHT simply by moving around the UK.
- Popular inheritance tax planning products explained.
- Practical answers to the problems of long-term residential care.
- How to retire to the country and save inheritance tax at the same time.
- How to benefit minor children and children who aren’t even born yet.
- Plus lots and lots more tax tips, examples and explanations.
- Dozens of clear real-life examples are used throughout to explain important points.
Click here to read the full contents listing and first chapter of the book
About the Author
The author is Carl Bayley BSc ACA, one of the country's most respected property tax experts. Carl is Taxcafe's Senior Consultant and author of some of our most popular tax guides. A regular speaker on tax matters, he was recently invited to talk to over 450 people at the Property Investor Show. Carl is also a regular contributor to TV programmes such as the BBC's It's Your Money programme and national newspaper articles on tax matters. He is a member of the governing council of the Institute of Chartered Accountants in England and Wales.
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What Will I Receive?
- How to Avoid Inheritance Tax - Professionally printed 300 page tax saving book with full colour cover.
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