Lifetime gifting is a powerful estate planning tool that can help reduce your inheritance tax (IHT) liability. By taking advantage of certain exemptions and allowances, you can give away assets during your lifetime while benefiting

In a high-profile legal case, Michael Parker, a multimillionaire businessman, won a court battle against his son over the ownership of a £2.2 million mansion. The dispute centred around whether the property was a gift

Understanding the distinction between legal and beneficial ownership in joint property is crucial, particularly when considering tax implications. These concepts play significant roles in the management, taxation, and inheritance of property. Whether you’re a homeowner,

When it comes to owning property jointly, especially for married couples and civil partners, grasping how beneficial ownership influences tax liabilities is crucial. While the legal owner of a property is easily identifiable, it’s the

Inheritance tax is a hot topic in the UK, affecting more and more families over time. But why do we pay this tax, and what is it really for? (Read Time: Approx. 3 minutes) Topics

Transferring your home to your children might seem like a smart move to avoid inheritance tax or simplify estate planning. However, this decision often leads to significant tax implications and other financial pitfalls that can

Inheritance Tax (IHT) often hits hardest where it’s least expected, particularly among siblings, nieces, nephews, and friends who inherit property. Unlike parents and married couples, who benefit from specific tax reliefs, these groups find themselves

In a recent landmark case, Nina Angelova succeeded in amending her late fiancé Peter John Bryant’s Will, rectifying a solicitor’s clerical error. This decision by the High Court sets a precedent for addressing mistakes in