by johnireland | Tax Talk
Taper relief is one of the most misunderstood rules in inheritance tax planning. Most people believe it gradually reduces the value of a gift over seven years. It does not. It reduces the rate of tax — and only on amounts above the nil-rate band. Here is how the...
by johnireland | Articles
The Seven-Year Rule Is Not What Most People Think Ask most people how inheritance tax works on lifetime gifts, and they will tell you something along these lines: give money away, survive seven years, and it is tax-free. That is broadly correct — but the detail...
