Tag: <span>Inheritance Tax</span>

7-Year Inheritance Tax

The 7-year rule If there is any Inheritance Tax to pay on gifts you make during your lifetime, it is charged at 40% on gifts given in the 3 years before you die. Gifts made 3 to 7 years before your death are taxed on a reducing, sliding scale known as ‘taper relief’. Years between…




What kind of gifts are exempt from inheritance tax?

Use these inheritance tax exemptions to see more of your assets go to your loved ones and less to the tax man. Inheritance tax weighs in at a hefty 40% for all assets over the £325,000 tax-free band. Those with significant assets may wish to start making tax-free gifts whilst they are still alive to…




How To Pay Off A Mountain Of Tax

The Earl of Lonsdale is to sell off a mountain in order to settle a £9million inheritance tax bill following the death of his father in 2006. The Earl is selling off the 2,850ft Blencathra mountain in the Lake District and has placed this landmark on the market for £1.75million. Part of his northern Cumbria…