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Article: YOUR MONEY ; Tim Cosby, a chartered financial planner at Langtons advises on inheritance tax
- Article from:
- Western Morning News, The Plymouth (UK)
- Article date:
- October 15, 2009
- Author:
CopyrightCopyright 2009 Western Morning News, The Plymouth (UK). Provided by ProQuest LLC. (Hide copyright information)
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IRECENTLY discussed the effects that Inheritance Tax (IHT) could
have on an estate. Assuming that values of properties and
investments are steadily recovering, this highly punitive tax will
have an increasing impact on personal taxation.
HM Revenue and Customs confirm that in 2008 Pounds 3.8 billion
was paid in IHT. This was at a time when asset values and house
prices were relatively low.
Quite understandably the question was put to me: "Is there
anything that can be done to offset this tax charge?" The answer is
yes and there are several opportunities available to reduce IHT. You
may be in a position to make a gift of part of your estate that you
will quite definitely not require in the ...