Paying Inheritance Tax When Alive

Published / Last Updated on 12/02/2014

Inheritance Tax is not just a tax paid on death, it may be paid when a gift is made in life.Laws around inheritance tax state that you can make a gift up to your inheritance tax threshold and if you live for 7 years after the gift then it falls outside of your estate and is no longer subject to inheritance tax.If you make a gift over the inheritance tax threshold it could be subject to inheritance tax depending on what/who the gift was made too in life.

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