Comments on: Welcome to the Inheritance Tax Blog https://www.taxfile.co.uk/2007/08/welcome-to-the-inheritance-tax-blog/ Tax advice & accounting services for South London businesses & SMEs Wed, 06 Feb 2008 12:39:00 +0000 hourly 1 By: Anonymous https://www.taxfile.co.uk/2007/08/welcome-to-the-inheritance-tax-blog/#comment-3 Wed, 06 Feb 2008 12:39:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/2007/08/welcome-to-the-inheritance-tax-blog/#comment-3 An important point to consider is tax planning within a will, particularly if the person making the will is married. We often advise married couples about the best way to use their spousal exemption in order to deal with inheritance tax in the most efficient way.

]]> By: TaxPlanner https://www.taxfile.co.uk/2007/08/welcome-to-the-inheritance-tax-blog/#comment-2 Sat, 19 Jan 2008 19:47:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/2007/08/welcome-to-the-inheritance-tax-blog/#comment-2 After the Chancellors pre budget speech in October the IHT rules for married couples and civil partnerships has changed and the effectiveness of IHT wills is somewhat reduced. In some cases having an IHT could make a married couple or couple in a civil partnership worst off.

Trust will still can play a part in inheritance tax planning and also in helping protect some of the family’s assets from potential care cost assessment if one of the spouses outlives the other and then requires long term care.

Asset Protection trusts, Interest in Possession Trusts and Revokeable Lifetime Interest Trust could all have a role to play and should be consider. A good will writer should take the time to understand what is required and the discuss all the potential solutions.

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