IHT: Is Your Property ‘Related’?

Mark McLaughlin highlights a potential problem for married couples and civil partners regarding valuations of jointly-owned property. Valuing assets such as land and buildings is potentially tricky for various tax purposes, including inheritance tax (IHT) on making a chargeable lifetime transfer, or on death. One area of potential difficulty is […]

Holiday Lettings – At Your Service?

Mark McLaughlin looks at furnished holiday lettings in the context of inheritance tax business property relief. Business property relief (BPR) is a valuable inheritance tax (IHT) relief, which is available to business owners if certain conditions are satisfied. The relief applies to ‘relevant business property’, including a business or interest […]

IHT And Severing Joint Tenancies – Prove It!

Mark McLaughlin highlights a recent case illustrating the importance of being able to demonstrate that a joint tenancy of property has been severed. Joint asset ownership (e.g. in a property) is an important issue for inheritance tax (IHT) and estate planning purposes, particularly between married couples and civil partners. The […]