How to save Inheritance Tax on your main residence | Bluebond Tax Planning

If you have any questions on inheritance tax please use the comments section below or visit our website at www.bluebond.co.uk
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Video Description
The following is a brief overview but the video obviously has more detail as to the reasons why the steps are important
How to save inheritance tax on your main residence
The problem in trying to save inheritance tax on your main residence is that it is likely to grow faster than your Nil rate Band allowances for inheritance tax and your Residential Nil rate Band allowance.
The first choice you have in saving inheritance tax is to downsize your property and gift capital away and the video explains the different ways you can do this and some of the issues you need to consider.
Another choice is using equity release to avoid inheritance tax on your main residence and once again we explain how this would work. We cover the issues you need to consider along with some problems you may encounter.
We go on to explain the benefits of lifetime trusts for inheritance tax and how they can be utilised in terms of reducing the inheritance tax on your main residence.
Lastly, if your property is of very high value and would exceed all of your allowances for inheritance tax, how you can gift away part of the property safely while avoiding some of the problems that you would encounter if you are not careful with this particular type of Inheritance tax planning.
As always experienced inheritance tax advice is essential.
If you have any questions about inheritance tax on your main residence or want any points clarified please call us on 01582 832253 or put your questions in the comments below.
Join our free Saturday webinar to learn how to solve your inheritance tax problem: www.bluebond.co.uk/webinar-pa...

[@aabarcellos]

Great honest summary

[@Inheritancetaxadvice]

Hi Thanks for your kind comments and I am glad we could help

[@bertiewooster3326]

Doubtful ...as a tax inspector the best advice and its free is ....spend it or give it away and live a further 7 years then we cant get it !! Do not trust trusts either we break them with ease !!