When planning how to distribute your wealth and avoid Inheritance Tax there’s a term that might sound a bit puzzling at first: Potentially Exempt Transfer, or PET for short. Don’t let the name intimidate you – it’s not as complicated as you might think....
They say your home is your castle and the thought of selling and downsizing in retirement doesn’t appeal to some. Your forever home can be very hard to part with, especially if there are lots of memories and wealth built up in the house. However, the wealth tied up...
How much money you can gift to a family member tax free will depend on how they are related to you. Gifting an unlimited amount of money to a spouse or civil partner will be tax free. Tax free gifts to all other family members will usually only be possible if they...
You may not have heard of a death box before and no I’m not talking about a coffin! Picture the rather morbid scene. You’ve died suddenly in an accident and the police are at your door informing your loved ones that you have gone. What happens next? Whilst your loved...
It’s actually easier to become an ISA millionaire than you may think. If you had contributed the full allowance into an ISA each year for the last 20 years you would have around £245,560 before factoring in any investment return. Even if you are retiring now with...
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