The UK government has reported record-high inheritance tax (IHT) receipts, largely due to the continued freeze on thresholds. With property values rising and tax-free allowances unchanged, more families are now facing increased tax liabilities. According to a Euronews report, the total IHT receipts have reached unprecedented levels, raising concerns among taxpayers. Why Are UK Inheritance...
What are the PETs and Gifts With Reservation of Benefit (GROB)? A gift, often referred to as a potentially exempt transfer (PET), is a transfer of value, such as an outright gift to a person or a willing sale of property while the owner is still alive. For Inheritance Tax (IHT) reasons, the value represents...
Copyright by CareAccountancy. All rights reserved.
Copyright by CareAccountancy. All rights reserved.
