Business Property Relief

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What is business property relief? When you give away your wealth by transferring your properties, your estate may have to pay inheritance tax (IHT).  However, if such properties consist of a certain type of business asset, your estate may get business property relief. Business property relief is provided at a certain percentage of the eligible […]

Domicile for IHT purposes in the UK

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IHT refers to two terms very commonly. Domiciled and Deemed Domiciled. Before we go into discussing the domicile for IHT issues and how a tax payer’s domicile affects his inheritance tax liability, let’s take the dictionary meaning of the word “Domicile.” Dictionary result for domicile noun the country that a person treats as their permanent home, […]