Plans for a £1m Inheritance Tax threshold are cancelled, leaving Inheritance Tax allowances at previous levels. This leaves consumers exposed to a potential Inheritance Tax liability of 40% on portions of their wealth.
Posts Tagged ‘Life Insurance In Trust’
Plan for generous Inheritance Tax allowances cancelled
Friday, May 28th, 2010Business owners! Life insurance cover can protect your company profits
Friday, May 14th, 2010Life insurance cover and critical illness insurance can be used in many ways to protect a company’s profits, if a key employee falls ill or dies. For example, life insurance cover can repay a company loan, or critical illness insurance can enable business partners to buy out a partner who must leave a partnership through ill-health.
Taxman looks forward to Inheritance Tax on £2.15 trillion
Wednesday, December 9th, 2009New figures from Aviva reveal why Inheritance Tax (IHT) is one of the most important sources of revenues for the UK taxman. There are currently £2.5 trillion in assets earmarked by parents as inheritances for their children and relatives, the insurer announced this week. This staggering sum is held by two-thirds of over-55s covered by [...]
Waking the dead: Penalties for late Inheritance Tax
Monday, August 17th, 2009HM Revenue and Customs has announced an increase to 3% of the interest charge on all late payments of Inheritance Tax, effective from September 2009.
Life insurance in trust: Taking control of your life insurance
Tuesday, August 11th, 2009One super-efficient tool for ensuring a smooth transfer of life insurance monies to your family is to set up your life insurance in trust.
Personal finance tips for newly weds
Friday, July 24th, 2009As you step over the threshold into married life, you should know that the world of your personal finances has changed forever as well. There are a number of financial matters to consider, and steps to be taken, as you and your partner embark on your new journey. Here are our top tips on what you should be thinking about, as you return from honeymoon.
Passing on your wealth: Tips for inheritance planning
Tuesday, July 14th, 2009The transfer of wealth to your children – better known as inheritance planning -Â is a complex area of personal finance that must be well planned in order to work efficiently. The central factor to consider in inheritance planning is taxation, and in particular Inheritance Tax, which, if left unheeded, can be applied to parts of [...]
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