Standard Life launches IHT guide for advisers

The annual exemption for IHT is £3,000, which is the sum an individual can gift away each tax year with no IHT consequences for the donor. The exemption can be carried forward for just one year if unused, after which it is void. Standard Life has published new literature called End of Year Tax Planning to assist financial advisers in discussing this with their clients. Julie Hutchison, estate planning specialist with Standard Life Assurance Limited, commented: "My feeling is that whilst many people have got into the habit of thinking about ISAs each year, the same is not true of the IHT...