Switzerland rejects inheritance tax
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More tightening of the rules around inheritance tax – especially around gifting – could potentially be coming in the Budget. Making safe, smart use of the gifting allowances as they currently stand may be a good idea.
All payments from the Infected Blood scheme will be exempt from inheritance tax, Rachel Reeves said during her Budget speech on Wednesday. The Chancellor also committed to transferring the Investment Reserve Fund of the British Coal Staff Superannuation Scheme to its members.
There are various factors at play, and it is important to look at your own case in isolation. However, broadly speaking, most married couples will be able to pass on £1 million to following generations before incurring IHT.