Our final Tax Tip is a tongue in cheek approach to IHT planning which comes just in time for last minute Christmas presents!
Some people’s approach to IHT is simply to spend their money! If you have enjoyed your money, gone on some fabulous holidays and purchased gifts using your annual allowances and exemptions, hopefully you will be well under the NRB of £325,000 on your death and no IHT will be paid at all!
Of course, if you want some sensible IHT advice that doesn’t involve you spending all of your money, please get in touch and arrange to talk to one of our team in the New Year.
These notes have been prepared for the purpose of articles only. They should not be regarded as a substitute for taking legal advice.