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ARTICLE · 06 SEPTEMBER 2023

Top Inheritance Tax Tips

Shepherd and Wedderburn
Shepherd and Wedderburn
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Shepherd and Wedderburn

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One might reasonably assume that Roy Jenkins (former Labour Chancellor) woke up on the wrong side of the bed before formulating this line, reflecting both a harsh analysis and an oversimplification of the law.

United KingdomTax
Justine McCluskey
Justine McCluskey
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"Inheritance Tax is, broadly speaking, a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue" - Roy Jenkins (former Labour Chancellor)

One might reasonably assume that Roy Jenkins (former Labour Chancellor) woke up on the wrong side of the bed before formulating this line, reflecting both a harsh analysis and an oversimplification of the law. Nonetheless, one point rings true – there are plenty of legitimate tax-planning techniques available to those concerned about their exposure to Inheritance Tax (IHT). Here are our top five tips for simple strategies that might make a big difference to your IHT bill:

1. Make use of small gifting allowances

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