Inheritance Tax
Inheritance tax (IHT) is often described as a "voluntary" tax. This view was supported by the wide range of IHT mitigation schemes that have been widely promoted over recent years. The Inland Revenue are clearly of the opinion that IHT is not voluntary, and have introduced wide ranging measures to block the effectiveness of such schemes, in some cases with retrospective effect and additional tax liabilities
A number of planning opportunities that do not rely on artificial arrangements remain available and can be tailored to suit the needs of the individual.
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