by support@informanagement.co.uk | Sep 24, 2026 | Inheritance Tax
HMRC is contacting some trustees after identifying possible errors in recent Trust and Estate tax returns relating to the type of trust being reported. The latest HMRC compliance campaign focuses on trusts where box 8.15 of the Trust and Estate Tax Return was ticked...
by support@informanagement.co.uk | Aug 10, 2026 | Inheritance Tax
After someone dies, the beneficiaries may find that the way an estate has been distributed does not reflect their wishes or the family’s circumstances. A Deed of Variation can allow beneficiaries to change how inherited assets are passed on and, in some cases,...
by support@informanagement.co.uk | May 28, 2026 | Inheritance Tax
Most lifetime gifts are treated as potentially exempt transfers (PETs) for Inheritance Tax (IHT) purposes. In general, these gifts become fully exempt if the donor survives for seven years after making the transfer. If death occurs within seven years, the gift may...
by support@informanagement.co.uk | May 14, 2026 | Inheritance Tax
Making gifts during your lifetime can be an effective way to reduce the value of your estate for Inheritance Tax (IHT) purposes. One of the most commonly used exemptions is the annual exemption. This allows an individual to give away up to £3,000 each tax year...
by support@informanagement.co.uk | Apr 16, 2026 | Inheritance Tax
The settlements legislation is designed to ensure that where a settlor retains an interest in settled property, the income arising is treated as the settlor’s income for all tax purposes. A settlor will be treated as having retained an interest where the...
by support@informanagement.co.uk | Mar 26, 2026 | Inheritance Tax
The 7-year gift rule is still an available option for those making lifetime gifts, offering a way to potentially reduce Inheritance Tax (IHT) liability. Most gifts made during a person’s lifetime are not immediately subject to tax. These transfers, known as...
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