Did you know that you can mitigate inheritance tax through a gift of money or assets?
It is possible to make a gift of up to £3,000 per tax year, just one of the ways you can use your annual gift allowance.
It is also possible for a parent to contribute up to £5,000 to a party of a marriage or civil partnership Additionally, a lifetime capital gift to a third party has the potential to be exempt from Inheritance Tax.
Gifts made to the following organisations are generally exempt from Inheritance Tax: Charities based in the UK, Political parties and organisations with national benefit like universities, museums or the the National Trust.
Are you unsure about which of these or other options to choose? Contact us today and we would be happy to advise on the best option.