Day: 22 June 2024
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Gift Triggers Inheritance Tax – BEWARE!
Understanding Gifts and Inheritance Tax (IHT) can be daunting, especially when dealing with Potentially Exempt Transfers (PETs). Knowing the specific rules can help save significant tax liabilities. (Read Time: Approx. 2 minutes) Topics Discussed: The Issue Gifts are typically excluded from a person’s estate for inheritance tax (IHT) if they survive seven years from the…