Published On: Fri, Sep 24th, 2021

Inheritance Tax: How to legally reduce levy – but there’s a ‘catch’ | Personal Finance | Finance


This can either take it under the £325,000 threshold or, at least, reduce the amount of Inheritance Tax that needs to be paid.

No Inheritance Tax is paid on gifts between spouses and civil partners, provided they live in the UK.

Furthermore, taxpayers can also give away wedding or civil ceremony gifts of up to £1,000 as part of the exemption.

Everyday gifts, such as birthday or Christmas presents, are also eligible to be part of the exemption.

 



Source link