Increasing Numbers Caught by IHT

Written by David Miles


The number of estates paying inheritance tax (IHT) has risen by two-thirds overrepparttar past five years, according to The National Audit Office. They say thatrepparttar 112235 Inland Revenue raised £2.5bn last year fromrepparttar 112236 300,000 estates that paid IHT.

Many people are oblivious torepparttar 112237 fact that they could be sitting on top of a potentially explosive, ticking tax bomb that is continually being fuelled by rising house prices. The tax in question is Inheritance Tax (IHT), a non-discriminating tax that doesn't target onlyrepparttar 112238 super-rich.

Let's consider whether you have a potential problem.

The IHT threshold means that tax on assets valued up to this amount is payable at a ‘nil' rate. This includes your property as well as your savings, investments, insurance policies not written under trust and business assets (subject torepparttar 112239 availability of relief at 50% or 100%). The value of your estate above this threshold could be subject to a tax of 40 per cent, depending on who inherits your estate following your death.

Protecting your assets fromrepparttar 112240 Taxman

If you haven't done so already,repparttar 112241 first place to start is to write a will. This will ensure that your assets are distributed as you want them to be when you die. Provisions to mitigate IHT can also be included.

Assets transferred between spouses are exempt from IHT, but other lifetime gifts could also be made in a more tax-efficient way.

Most lifetime gifts are exempt from IHT ifrepparttar 112242 donor survives for seven years and there is no limit onrepparttar 112243 size of such transfers, so this is an excellent way of transferring assets that you do not need to keep in your estate. It may be advisable to cover substantial gifts by insurance against death within seven years.

Surefire Ways to Attain Moneymaking Success

Written by Michael Lee


You have probably heard other people say that "Money isn't everything" or "Money can't buy happiness." They may be right in some aspects; but it's not just aboutrepparttar money.

It's about having an ideal lifestyle - being able to have control over your time and schedule, having no one ordering you around, not having to look atrepparttar 112234 price tags every time you go out shopping, and just enjoyingrepparttar 112235 freedom that you truly deserve.

But why do many people fail to achieve financial freedom? Through experience, I have observed that they have limited belief.

That'srepparttar 112236 problem with most people. They have set up a boundary in their minds. This barrier stops any possibility of surpassingrepparttar 112237 current limits of their belief.

For example, many people would think that their boring day job is all that they're good enough for. They do not like to think outsiderepparttar 112238 box. They do not grab opportunities that are theirs forrepparttar 112239 taking. Fears and doubts have been causing them to miss these golden chances of a lifetime.

There are plenty of opportunities out there. They may enroll in night classes, do some research on how to make more money, or start an internet business.

When I was just starting my online endeavors, all my friends and relatives (withrepparttar 112240 exception of my internet marketing friends, of course) would discourage me in entering this venture. They would repeatedly inform me that I'm wasting my time and nothing good would come out of it.

Had I listened to them, I would not have achieved online success. If they have succeeded in implanting their own restricted beliefs into my mind, I never would have tastedrepparttar 112241 joy of being an infopreneur.

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