Tax-efficient gifting

Tax-efficient gifting

The amount of inheritance tax (IHT) collected by the government’s coffers has soared over recent years to a record £5.4bn in the 2018-19 tax year.

Rising property prices and a stagnant tax threshold are partly behind the increase. Yet it could also be down to families who are failing to take advantage of the range of gift allowances and exemptions that are available to them to minimise their liability to IHT.

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