When somebody passes away, their estate becomes subject to either selling or transferring ownership. The specifics of how this is done can depend on certain individual factors. If the person were a joint tenant, the other tenant would immediately claim their share. This is known as the Rule of Survivorship. […]
Over the past six weeks I’ve been discussing UK tax and property, and for the final instalment in the series, I want to consider death as an exit strategy and the implications of this from a tax point of view. It’s not uncommon for an investor to say that “death” […]
Mark McLaughlin considers the inheritance tax treatment of a rental property business within a trading company. Many individuals would like to have a rental property business, but may be concerned (among other things) about the possible eventual inheritance tax (IHT) liability on the value of the property portfolio. However, a […]
Mark McLaughlin outlines how it can be possible for a co-habiting couple or a married couple (or civil partners) to benefit from up to four nil rate bands for inheritance tax purposes. The transferable nil rate band (TNRB) is a very useful facility for married couples or civil partners for […]
