Exemptions from Inheritance tax

There are some exemptions that can be used and are total and absolute. There is no requirement to live a certain time before they exit your estate if you can afford to give money away these should be used before anything else you do. Please remember the gifts must be absolute and not just loans. It is very import as with all things connected with inheritance tax planning that correct documentation is kept so the revenue cannot be any doubt.

The Main exemptions are

• Spouse
• Charities
• Small Gifts
• Dependent relatives
• Marriage
• Out of Income
• Annual