Tag Archives: inheritance tax

Property valuations: Get it right!

How much are your assets worth? Some asset valuations (e.g., quoted shares) are relatively straightforward; others might cause disagreements with HM Revenue and Customs (HMRC). What is ‘market value’? For example, when valuing a chargeable lifetime gift of a property for inheritance tax (IHT) purposes, or a property on an individual’s death, its market value… Read More »

Escape from POAT!

Many individuals who are concerned about inheritance tax (IHT) being payable on their death estates will undertake IHT planning in their lifetimes. Income tax – on IHT planning! However, in some cases this will result in an income tax charge instead. Even if no IHT planning is undertaken, this income tax charge can still bite… Read More »

Trust for the kids: What could possibly go wrong?

A parent with sufficient means may sometimes wish to transfer an income producing asset. For example, mother may wish to transfer investment property in London into a discretionary trust for her daughter (e.g., to help cover university costs or supplement income when buying her own home and/or starting a family). However, there are various tax… Read More »


It is difficult to think of a scheme more strongly disliked by HM Revenue and Customs (HMRC) than the ‘home loan’ (sometimes referred to as the ‘IOU’) scheme for inheritance tax (IHT) purposes. What was it? The home loan scheme reached the peak of its popularity in the late 1990s and early 2000s. Broadly, the… Read More »

One good ‘deed’…

The expression ‘putting someone on the property deeds’ is commonly used to describe changing the legal ownership of a property, such as an individual’s home. ‘Putting someone on the property deeds’ often involves giving the dwelling, or an interest in it, to a spouse (or civil partner) or close family member. There could be several… Read More »

Don’t forget goodwill!

The valuation of assets can be important for tax purposes. For example, a valuation may determine the amount of inheritance tax (IHT) payable on a lifetime transfer (e.g. the transfer of an investment property to a discretionary trust), or on an individual’s death estate. In addition, an asset valuation may be needed to determine the… Read More »