How can I cut a potential inheritance tax bill?

Each UK resident has a Nil Rate Band of currently* £325,000 if the estate exceeds this on death the amount over the nil rate band is taxed at 40%*. There are several different ways to reduce your Inheritance Tax bill:

Make outright gifts

Set up a trust

Keep your assets while reducing your estate

Managing Inheritance Tax without making gifts

Raising debt against the estate for example an equity release mortgage

Or simply accept the tax and hold a life assurance policy in trust to allocate funds to this


*Correct as of July 2018

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