The tax that not even death can avoid! This is probably the tax that most people dislike as it can take a proportion of everything we spend our lives working to build. Unfortunately, over the years the Inheritance tax threshold has fallen behind the increase in property prices meaning that far more people now find that there is a potential liability. However, there are reliefs available and if affairs are structured correctly it is possible to reduce the potential liability.
It is therefore vital that reviews are carried out and matters structured in the best possible way taking all circumstances into account. Some of the ways in which IHT can be reduced include:
Maximising all available reliefs.