Inheritance Tax

Leaving a Will

Tuesday, January 24th, 2012

Here’s to the Duke! And here’s something you may not know… If you die without leaving a will, you may be giving your estate away to the crown when you die. What you are likely to be aware of already is that if you die without leaving a will, your estate may go to distant [...]

Tags: estate planning, Inheritance tax, long term care, Wills

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Long Term Care – Estates Don’t Have To Be Liable

Monday, August 1st, 2011

Without question, long term care is one of the biggest threats to the passing down of capital to our children. Unlike Inheritance tax, which is applied as a tax at 40% on transfers over £325,000, your personal estate can be liable for every penny over and above £23,500. It is also a tax on the [...]

Tags: Inheritance tax, investment bonds, long term care, long term care costs

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UK Inheritance Tax

Thursday, July 28th, 2011

£80,000 per person in Inheritance tax I have just found out that my life insurance could be liable for UK Inheritance tax. Is this correct? This was a question we received recently from one of our clients. In simple terms, UK inheritance tax is a charge of 40% on any assets valued at more than [...]

Tags: Inheritance tax, life insurance, nil rate band, pensions, trusts

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Advice for lottery winners

Friday, November 20th, 2009

£45.5 million. That surely is a good Saturday morning reading when you pick up your lottery winnings. But it isn’t all plain sailing as some of you might think! Consider the problems Les and Samantha, the lottery winners now have. There may be some mild sarcasm to follow.

Tags: capital gains tax, Inheritance tax, Lottery winners, offshore investment bonds, onshore investment bonds

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National recognition for Chandlers Ford financial planner

Monday, November 9th, 2009

A certified financial planner from Hampshire has beaten off strong competition to claim second place in a national financial planning competition. Barry Newton, who is senior financial planner at Worldwide Financial Planning in Chandlers Ford, came second in the Inheritance Tax category in the annual Financial Planner Awards.

Tags: Annual Financial Planner Awards

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Another Inheritance Tax Rise

Monday, September 14th, 2009

Inheritance tax is clearly one of the most unpopular taxes in the system and it’s about to become even more unpopular. Inheritance tax is paid on estates where a transfer is made on death of over £325,000. There are a number of exemptions but I won’t cover them in this column.

Tags: CGT, inflation, Inheritance tax, interest rates, nil rate band, road tax, tax, VAT

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Will writing and inheritance planning…doing nothing is not an option

Friday, April 4th, 2008

Managing Director, Worldwide Financial Planning, Writes:

A friend of mine asked me about making a will at my 40th birthday last week! He asked me when I might be making a will as clearly time was ‘getting on’. I had made one some 19 years before and have changed it more than five times.

Tags: Inheritance tax, long term care, nil rate band, trust planning, Will writing, Wills

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Basics for Inheritance Tax Planning

Wednesday, February 27th, 2008

Managing Director, Worldwide Financial Planning, Writes:
Inheritance tax has undoubtedly become much easier after the government’s change of heart in relation to the nil rate band, but still today, many people are not making use of some of the basic aspects of this planning that they should be.

Tags: gift allowance, Inheritance tax, life insurance, nil rate band, trusts

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Surviving spouses and Inheritance Tax – the nil rate band implications

Tuesday, November 20th, 2007

Reader Writes:
Your recent column on inheritance tax (IHT) mentioned the change in the pre budget report and that IHT had just become much easier. I have just considered there may well be quite a gap between the first and second death so I was wondering what needs to happen on first death and what a surviving spouse should now do if their spouse has pre deceased them.

Tags: IHT, Inheritance tax, nil rate band, Will

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The new inheritance tax threshold – what does it mean for me?

Monday, October 22nd, 2007

I wonder how many people like me saw the fact that the pre budget report had announced the Inheritance tax threshold had doubled and then fainted. What better news I thought…Until I read it. Basically the nil rate band is the amount you can transfer to anyone other than your spouse free of inheritance tax. [...]

Tags: CGT, house prices, Inheritance tax, nil rate band, trusts

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