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💡 Strategies to Reduce Your Inheritance Tax (IHT) Bill 1. Start Gifting During Your Lifetime Reduce your estate’s value early by using HMRC’s tax-free gift allowances: Use your annual exemption: Gift up to £3,000 each tax year without triggering IHT. If unused, you can carry this forward one year. Give…

From the tax years 2015/16 onwards, it is possible for a spouse or a Civil Partner to claim Marriage Allowance. To understand the concept of Marriage Allowance, you should be familiar with the idea of Personal Allowance.  What is Personal Allowance? The government allows each individual to receive a certain amount…