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pendy · 13-03-2006, 15:58

Inheritance tax will hit more and more people as house values rise. The problem is that quite often the only really valuable asset is the family home, and that tips the value over the nil rate band. You can make lifetime gifts, but they may be subject to tax. I'll check with David the amount you can gift every year, in case any of us is well off enough to do it! There is also a rule about gifts out of income, but for most of us that's only a few quid at Christmas. If anybody is really worried, pm me and I'll ask the tax guru.

13-03-2006, 15:58	#15
pendy Resting in peace Join Date: Aug 2004 Location: London/Oswaldtwistle Posts: 1,123 Liked: 0 times Rep Power: 910	Re: Inheritance Tax Inheritance tax will hit more and more people as house values rise. The problem is that quite often the only really valuable asset is the family home, and that tips the value over the nil rate band. You can make lifetime gifts, but they may be subject to tax. I'll check with David the amount you can gift every year, in case any of us is well off enough to do it! There is also a rule about gifts out of income, but for most of us that's only a few quid at Christmas. If anybody is really worried, pm me and I'll ask the tax guru.