IHT: Don’t look back in anger!
Many taxpayers are aware of a ‘seven year rule’ for inheritance tax (IHT) purposes. They assume this rule to mean that if (for example) a parent gifts an investment property to their adult offspring, the gift will escape IHT if the parent survives at least seven years after making the gift. Seven years…or is it? […]
Tax Planning Nobody Will Rush To Try!
“In this world nothing can be said to be certain, except death and taxes.” This is a well-known quotation attributed to Benjamin Franklin. To prefer not to think about one’s own mortality is normal and natural. However, tax is a consideration both during lifetime and on death. It is therefore prudent to consider steps to […]