IHT is a tax that your estate pays at a flat rate of 40% on assets over a certain limit (the IHT threshold) that you leave on your death. The Inheritance tax threshold for the 2005/2006 tax year is £272,000.

Any amount of money you give away outright will not be counted for the IHT if you survive for seven years after making the gift. If you die within seven years, taper relief on the amount will apply. This reduces the amount of tax due.

Some gifts are exempt for IHT altogether regardless of how soon you die after making them. They include gifts to your spouse and gifts to charities.

Mercier Allen and Associates Limited (Registered Office: 43-44 Carfax, Horsham, West Sussex RH12 1EQ; Registered in England and Wales Number 5440169) is a trading name of Mercier Allen and Associates Limited an appointed representative of The On-Line Partnership Limited which is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk). Mercier Allen and Associates Limited is a Limited Company.

We give our clients the opportunity to pay us a fee if they wish; our normal fee is £250.

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This web site is designed to provide you with general information only and does not attempt to give you advice on any particular area or to recommend any particular product to you. The information in this web site is targeted at UK customers only.
INVESTMENT PROPERTY PURCHASE (BUY-TO-LET MORTGAGES) ARE NOT REGULATED BY THE FINANCIAL SERVICES AUTHORITY.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
THE VALUE OF THE MONEY YOU INVEST CAN GO DOWN AS WELL AS UP AND YOU MAY GET BACK LESS THAN YOU INVESTED.

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