Category Archives: Inheritance Tax

Tax Consequences on Gifted House

tax-on-gifted-house-in-a-gift-box

  If someone wants to gift a house to his children, he needs to consider the following tax consequences regarding the gifted house. Capital Gain Tax (CGT): There will be a Capital Gains Tax (CGT) and the proceeds will be deemed to be the market value of the property at the date of the gift. […]

New deemed domicile rules for inheritance tax

New deemed domicile rules for inheritance tax Date: 07/02/2018 HMRC has published a guidance detailing new deemed domicile rules for inheritance tax (IHT). The new rules will apply from 6 April 2017. Guidance also include changes to the number of years of residence needed in the UK for deemed domicile rules to apply and the […]

Inheritance Tax in a Nutshell

Inheritance Tax in a Nutshell Date: 05/03/2014 The two unavoidable certainties, i.e. death and taxes, will inevitably come together one day. But you can possibly avoid but definitely reduce the inheritance tax with proper planning.  Inheritance tax is often referred to as the ‘voluntary tax’, being easily reducible. Here is a small list of helpful […]