Inheritance Tax Planning Handbook 2021-2022 Strategies & Tactics To Save Inheritance Tax

May 2021 Edition
Inheritance tax is a particularly nasty tax as it's a tax on your capital that you've accumulated from your after tax earnings.
It applies at 40% on the value of your estate above the nil rate band (currently £325,000). It's not just the assets held at the date of your death that are included, but also assets gifted away (in some cases) up to 14 years before.
In this book we look at some of the top ways you can legally reduce your inheritance tax liability.
There are a number of options and opportunities - from simply giving away assets to setting up a trust or emigrating from the UK completely.
Topics covered include:How to reduce Inheritance tax on giftsNon dom inheritance tax changesHow the exemption for normal transfers of income appliesWhen the 7 year period becomes a 14 year periodWhat to do and when to avoid Inheritance taxReducing IHT with the 36% rate of Inheritance taxHow to maximize tax reliefs for charitable givingInheritance tax planning for joint bank accountsReducing Inheritance tax on insurance policiesPutting life insurance into a flexible gift trust or bare trust to reduce Inheritance taxUsing side letters for IHT purposesInheritance tax planning for the family homeReducing tax on a property investment portfolio by using mortgagesDebts on death and IHT PlanningWhen is it worth forming a lifetime trust for UK tax planning and how to determine which type of trust to usePlanning for joint accounts and inheritance tax/succession planningHow to use a nil rate band "Settlor Interested Trust" tax efficientlyHow to save substantial amounts of inheritance Tax on your investment propertiesMaximizing tax Inheritance tax relief on your family companyAIM shares & IHT reliefQualifying for Inheritance Tax relief on companies with large cash balancesHow the transferable nil rate band appliesUsing a Parallel Company to reduce Inheritance taxReducing Inheritance tax with a double tax treatyA review of the UK-US Inheritance tax/Estate tax treatyUK inheritance tax and gifting cash abroadEmigrating from the UK to avoid Inheritance TaxWhen the 7 year inheritance tax survivorship period can be avoidedHow shareholders can use cross options to retain entitlement to Business Property ReliefAll about the new Residence Nil Rate Band (RNRB) and how to maximise reliefReleasing cash as debt for IHT purposesLosing UK domicile statusUsing a Discretionary trust or Life interest trust for IHT planning?Self-settlement of the nil-rate band for UK IHT purposesAbout the AuthorThe author of the "Inheritance Tax Planning Handbook " is Lee Hadnum. Lee is a rarity among tax advisers having both legal and chartered accountant qualifications. After qualifying a prize winner in the Institute of Chartered Accountants exams, he also went on to become a chartered tax adviser (CTA).
He worked in Ernst & Youngs Entrepreneurial Services department for a number of years before setting up his own tax planning practice. He is now a full time tax author.


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