Avoiding inheritance tax

TAX

More people are going to be affected by inheritance tax, but there are ways to mitigate it by careful use of gifts and trust arrangements

Over the past few months many articles have been written about the expected increase in the number of estates that will be affected by inheritance tax, and unfortunately this time it is unlikely that it is simply press speculation. Gordon Brown has not helped with the recent changes to the rules governing pre-owned assets and the minimal increases in the nil rate band. This means that what was right for some may no longer be effective planning. Client estates affected by inheritance tax are no longer part of an elite club. The type of clients affected these days are Mr and Mrs Average with...