FINANCIAL MATTERS - FEBRUARY 2017

FINANCIAL MATTERS - FEBRUARY 2017

SUMMARY

This month’s issue looks at how to avoid being caught out by the ‘14-year rule’ when planning to pass on wealth. Many people are aware of the seven-year rule, but gifts made up to 14 years before death may also be subject to inheritance tax (IHT). Meanwhile, the residence nil rate band set to be introduced in April will help ease the IHT burden for some, but those with large estates may not benefit. Lastly, the Institute of Fiscal Studies has published a paper exploring the relationship between inheritance and inequality across generations. 

 

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