FOR FINANCIAL ADVISERS ONLY

FOR FINANCIAL ADVISERS ONLY

Consumer
Share
Print
Print Share

UK IHT planning

Below you will find inheritance tax (IHT) planning material to help your clients to mitigate their UK IHT liability.

 

UK IHT SALES AIDS AND GUIDES

The forgotten tax

UK inheritance tax (IHT) - The forgotten tax

An adviser-facing guide covering who is liable to IHT, exemptions and reliefs, plus options to mitigate liability.

Three key areas

UK inheritance tax (IHT) - Three key areas to consider

An adviser-facing guide covering covering the nil rate band, potentially exempt transfers and chargeable lifetime transfers.

Exemptions

UK inheritance tax (IHT) - Exemptions

An adviser-facing guide covering the annual exemption, small gifts exemption and normal expenditure out of income exemption.

 

IHT QUICK REFERENCE GUIDES

Normal expenditure out of income

Normal expenditure out of income

This guide will provide you with the information you require to advise clients wanting to make regular gifts out of excess income.

Residence nil rate band (RNRB) – Part 1 Main provisions (overview)

Residence nil rate band (RNRB) – Part 1 Main provisions (overview)

This guide will provide you with the information you require to advise clients on the Residence Nil Rate Band available where property is left on death to descendants.

Residence nil rate band (RNRB) – Part 2 Downsizing provisions

Residence nil rate band (RNRB) – Part 2 Downsizing provisions

This guide will provide you with the information you require to advise clients on the availability of the Residence Nil Rate Band where property has been sold/given away.


UK IHT CALCULATOR

The Old Mutual International IHT calculator can assist you when assessing your clients’ UK IHT liability, enabling you to advise the steps to be taken in order to mitigate any potential tax due.

When calculating the value of your client’s estate it is important to include all the assets they own, whether partly or outright and their liabilities.

Functions of the calculator

  • It gives you the flexibility to input the nil-rate band applicable to your client before calculating their net taxable estate and potential IHT liability. For example, your client may benefit from the transferable nil-rate band rules.
  • It shows how much of the taxable estate the beneficiaries will receive after IHT has been paid.
  • It enables your client to compare this with IHT payable in the future, taking into account growth on the value of the estate and the value of nil-rate band increases in the future.

 

Having problems accessing the calculator?

The security in your version of excel may not allow you to run the macros in the calculator. If this happens, just change your settings in excel using the instructions below:

  1. Open Excel
  2. Click on the Tools menu at the top of the screen
  3. Then Macro
  4. Then Security
  5. You should see a list of 4 settings - Very high, High, Medium, or Low. If your PC is set to Very high or High then it will block this macro
  6. Please set to Medium and the file will run the macro

The information provided here, or in the IHT calculator, is not intended to offer advice.
It is based on Old Mutual International's interpretation of the relevant law as at September 2019. While we believe this interpretation to be correct, we cannot guarantee it. Old Mutual International cannot accept any responsibility for any action taken or refrained from being taken as a result of the information contained here or in the IHT calculator.

 


IHT ARTICLES

Read a range of helpful articles on inheritance tax.

Financial Adviser Verification

The content of this site is for advisers only. It is not for the use of Hong Kong advisers. You can change the regional content by selecting a region from the drop down box in the top right-hand corner.