Eight ways to lessen the burden of IHT

tax

Despite the tightening of the law on using trusts to pass on assets to heirs there are a number of options for doing this while mitigating the tax burden

After months of controversy, public debate and numerous U-turns, the Chancellor's new rules on the taxation of trusts have now been enacted. However, there are still a number of options available to individuals who wish to pass on their wealth to their children in a responsible and tax-efficient manner. Firstly, families with more complex affairs are likely to be able to take better advantage of the inheritance tax (IHT) exemptions available, whereas families with less complicated affairs are more likely to choose a successive approach to passing on their wealth, for example, using a nil r...