{"id":648,"date":"2022-02-22T12:09:50","date_gmt":"2022-02-22T12:09:50","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=648"},"modified":"2022-02-22T12:09:51","modified_gmt":"2022-02-22T12:09:51","slug":"how-to-beat-the-big-freeze","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2022\/02\/22\/how-to-beat-the-big-freeze\/","title":{"rendered":"How to beat the big freeze"},"content":{"rendered":"
\n

With both the Inheritance Tax (IHT) nil-rate band and\nresidence nil-rate band remaining frozen at existing levels until April 2026,\nat \u00a3325,000 and \u00a3175,000 respectively, many families are already receiving\nhefty IHT bills. The increase in receipts has been attributed to the big freeze\nin allowances, rising estate values and the sad increase in deaths among those\nover 60 due to the pandemic.<\/strong><\/p>\n<\/div>\n\n

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If you\u2019re concerned about IHT, here are a few things to think\nabout\u2026<\/p>\n<\/div>\n\n

\n
  • Gifts<\/strong> \u2013 remember to use your \u00a33,000\nannual allowance. You can also make gifts of up to \u00a3250 per person, to as many\npeople as you want in each tax year; make monetary wedding gifts; donate to\ncharities and political parties, and make gifts from surplus income that don\u2019t\naffect your standard of living<\/li><\/ul>\n<\/div>\n\n
    \n
    • Use trusts<\/strong> \u2013 for example putting money\ninto a trust to pay for a grandchild\u2019s education or to provide support for a\nrelative<\/li><\/ul>\n<\/div>\n\n
      \n
      • Make a Will<\/strong> \u2013 and keep it up to date<\/li><\/ul>\n<\/div>\n\n
        \n
        • Leave money to charity<\/strong> \u2013 if you leave at\nleast 10% of your net estate to charity, the IHT rate is reduced from 40% to\n36%<\/li><\/ul>\n<\/div>\n\n
          \n
          • Take out life assurance<\/strong> \u2013 this won\u2019t\nreduce your estate but instead provides a lump sum to your beneficiaries to pay\nthe bill. The policy should be written under a suitable trust<\/li><\/ul>\n<\/div>\n\n
            \n
            • Take professional advice<\/strong> \u2013 sensible IHT\ntax planning can help to reduce the amount of IHT your beneficiaries will have\nto pay and safeguard your wealth for the future.<\/li><\/ul>\n<\/div>\n\n
              \n

              It is\nimportant to take professional advice before making any decision relating to\nyour personal finances. Information within this article is based on our current\nunderstanding and can be subject to change without notice and the accuracy and\ncompleteness of the information cannot be guaranteed. It does not provide individual\ntailored investment advice and is for guidance only. Some rules may vary in\ndifferent parts of the UK.<\/em><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

              With both the Inheritance Tax (IHT) nil-rate band and residence nil-rate band remaining frozen at existing levels until April 2026, at \u00a3325,000 and \u00a3175,000 respectively, many families are already receiving hefty IHT bills. The increase in receipts has been attributed to the big freeze in allowances, rising estate values and the sad increase in deaths […]<\/p>\n","protected":false},"author":12,"featured_media":649,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/648"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=648"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/648\/revisions"}],"predecessor-version":[{"id":650,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/648\/revisions\/650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/649"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=648"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}