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....
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...
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