Gifting: Five steps to help reduce IHT liabilities

One of the easiest ways to reduce a future inheritance tax (IHT) liability is for clients to give wealth away during their lifetime. Gifting can be an effective way of saving clients' heirs a significant IHT bill. For every £10,000 moved out of an estate while a client is still alive their loved ones could save £4,000 in tax. Lifetime gifting also gives clients the opportunity to watch their wealth being enjoyed. Here is a five-step guide to gifting to help clients understand and make the most of the option.   1. Give every year An effective way to reduce your estate is to k...