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Making Gifts Before You Die Can Help Save Inheritance Tax – Portner

Posted by Liz Seyi on October 3, 2024 at 1:09pm 0 Comments

It is hard to think about giving away your assets while you are still alive, but doing so can help save Inheritance Tax when you die. In this article, head of private client Elena Stylianou explains how the ‘seven-year rule’ enables you to gift assets during your lifetime tax-free or at a reduced tax rate.

How is Inheritance Tax charged?

First, let’s look at how Inheritance Tax is charged. The current Inheritance Tax position is that a deceased’s estate is taxed at 40% on the value of… Continue

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