Inheritance Tax (IHT) in the UK can often be onerous for spouses, individual recipients of the estate and families that are left with a large tax exposure after the death of the estate holder. To minimize the tax, currently standing at a 40% marginal tax rate, you will need to plan for your estate transfer by actively engaging in certain tax relief schemes to help you minimize the impact on your estate and your family. The following will assist to better understand your tax risks and explains a number of tax relief measures that help to mitigate exposure to IHT.
