How to AVOID Inheritance Tax | Tax Allowance FROZEN until 2026!
Channel: Financial Madness
Date: 2021-04-05

How to Avoid Inheritance Tax? or How to Minimise Inheritance Tax?
Given the recent news, now more appropriate than ever to understand how to Avoid Inheritance Tax. In last month's budget the Government announced the freezes to certain allowances (one being Inheritance Tax Allowance) for the next 5 years. Allowances that would otherwise typically increase year on year to account for inflation.

One of those freezes was the Inheritance Tax Allowance. Now the current Inheritance Tax Allowance has actually been frozen for a while now, and as it continues to freeze until 2026, I wanted to share some ways on how you can reduce you IHT tax bill and how to potentially AVOID Inheritance Tax completely.

Chapter Information:
0:00 Introduction
0:39 What is Inheritance Tax?
2:02 How to Avoid Inheritance Tax?
2:16 Tip #1: 7 Year Rule
3:30 Tip #2: Gift Allowances
5:56 Tip #3: Make a Will
8:24 Tip #4: Hold assets within a Trust
9:15 Tip #5: Get Life Insurance
9:41 Tip #6: Spend it!

▶Gov.uk - Inheritance Tax:  https://www.gov.uk/inheritance-tax/gifts

DISCLAIMER - Any advice or (statements perceived to be advice) given in this video and any other videos on my channel are for information purposes only, and does not act as financial advice.  Your  are fully responsible for your financial decisions. If you are in need of Financial Advice, please seek out a professional advisor. If your are unsure on how to do this, feel free to reach out to me and I am more than happy to guide you.

#InheritanceTax #AvoidInheritanceTax #Budget2021