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Tips for minimising inheritance tax - Lifetime gifts

September 6, 2019

Some statistics have recently been issued by H M Revenue and Customs (HMRC) which indicate that, in the 2018/19 financial year, the average
Inheritance Tax (IHT) bill was £200,000 and, with the current main rate of IHT having remained at 40% for some time now, IHT is a tax which can
generate significant sums for HMRC. So, what can you easily do to minimise your IHT bill? Giving away money by way of gift can be relatively
straightforward and I have highlighted below some helpful tips, but these are by no means an exhaustive list and, as always, each individual’s
circumstances will be different and specific advice tailored to your needs is essential.

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