How to Save Inheritance Tax 2022/23

By Carl Bayley BSc FCA

Proper inheritance tax planning could save your family hundreds of thousands of pounds.

This very detailed yet easy to read guide tells you everything you need to know about protecting your assets from the taxman.

The 18th edition of How to Save Inheritance Tax has just been published (July 2022) and is completely up to date. And, as always, the new edition also contains lots of new information.

Inheritance tax planning has become more important than ever following the 17 year freeze in the £325,000 lifetime exemption. With inflation reaching a 30-year high, more and more families are being dragged into the inheritance tax net.

The guide is packed full of practical examples and tax planning ideas. Over more than 15 years it has acquired a reputation as the most comprehensive inheritance tax planning book in the UK.

What Information is Contained in the Guide?

Subjects covered include:

• All tax changes announced in the October 2021 Budget and March 2022 Spring Statement.
• A plain-English guide to calculating inheritance tax and how the tax works.
• A chapter on proposed changes to inheritance tax - vital when doing long-term planning.
• The tax planning timetable: Steps to take at key points in your life.
• Both simple and advanced inheritance tax planning techniques, including a whole chapter on advanced techniques.
• A detailed list of completely tax-free amounts that can save you thousands every year.
• How to use the ‘regular payment’ method to pass unlimited funds to family members.
• The advantages of making gifts by standing order.
• Over a dozen inheritance tax planning techniques for protecting the family home.
• Why moving out of your home near the end of your life could cost you £140,000 in extra IHT and how to prevent this happening.
• Lots of information throughout for landlords and property investors throughout.
• The interaction between IHT and capital gains tax – How to avoid CGT when transferring assets to your family.
• Absolutely everything you need to know about using trusts to save inheritance tax.
• A whole chapter on family investment companies, combining massive IHT savings with income tax and capital gains tax savings.
• Everything you need to know about potentially exempt transfers, tax free after 7 years.
• Inheritance tax planning techniques for common law partners.
• How to avoid causing financial hardship to yourself or your spouse.
• How to use business property relief to pass unlimited assets to your family.
• When furnished holiday lettings and other property businesses qualify for business property relief.
• How to keep control over your income when you give away capital.
• How to avoid IHT on valuable antiques, paintings, etc.
• Details of other UK investments that can escape inheritance tax.
• An updated and expanded guide to emigration, bringing together all aspects of this tax planning strategy.
• Additional issues to consider when you own overseas property or your beneficiaries live abroad.
• Practical answers to the problems of long-term residential care.
• Things to watch out for if you're from a Scottish family or own property in Scotland.
• IHT Planning after death - How families can still save tax after a loved one has died.
• The benefits and pitfalls of deeds of variation and survivorship clauses in wills.
• 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

 

What Will I Receive?