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IHT Tips for Married And Civil Partnership Couple

Inheritance tax (IHT) was once regarded as a tax that only affected the very wealthy.; however, rising property prices and a freeze on allowances mean many more people are facing a tax charge upon death.

Everyone’s circumstances are different and it is important that even if you don’t consider yourself particularly wealthy, you take proper tax and financial planning advice.

How to manage your Inheritance Tax risk

Inheritance tax (IHT) is an increasing reality for many, as rising property values and savings, and frozen tax allowances, mean more estates are set to pass the threshold.

But the saving grace is that it is easy to plan for. By looking ahead to to the very end of your financial journey, you can avoid or reduce the tax, meaning more to pass on to loved ones (and help them at the start of theirs).

We give our top tips on inheritance tax to help you get started.

IHT planning for cohabiting couples

When it comes to relationships and money, where you sit on the marriage spectrum can matter. This is because some tax rules (such as on inheritance) permit married and civil partners to transfer assets and allowances to each other tax-free, but currently don’t give the same protections if you live together or otherwise share a life unmarried.

Careful planning is the key. We analyse the main rules and what you should know.