You might have heard that inheritance tax (IHT) is something you can avoid if you give away enough assets at least seven years before you die. But since we can't predict our own passing and still need money to live, this isn't always practical. Thankfully, there are various IHT allowances and exemptions that let you make gifts during your lifetime without worrying about IHT, even if you pass away within seven years of making the gift.
Making use of your inheritance tax allowances
Making use of your inheritance tax allowances
Making use of your inheritance tax allowances
You might have heard that inheritance tax (IHT) is something you can avoid if you give away enough assets at least seven years before you die. But since we can't predict our own passing and still need money to live, this isn't always practical. Thankfully, there are various IHT allowances and exemptions that let you make gifts during your lifetime without worrying about IHT, even if you pass away within seven years of making the gift.