Avoid the 40% UK Inheritance Tax - Give away your home

International Tax Advice for US & UK Expats

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How to avoid UK inheritance Tax by giving away your home to loved ones
If you are looking for a new property tax specialist please visit www.optimiseaccountants.co.uk/
Read our article on Read about our IHT services www.optimiseaccountants.co.uk...
Need a buy to let mortgage? survey.zohopublic.com/zs/GuCCYx
In this video, you will learn about
- What is UK inheritance tax (IHT) and how much do you have to pay to HMRC
- How to avoid inheritance tax by moving by gifting your home to children/grand children
- What are the other ways to mitigate and avoid inheritance tax in the United Kingdom (UK)
#IHT #Tax #Estate
United Kingdom (UK) & United States (US)
Need a new property tax specialist :www.optimiseaccountants.co.uk/
United Kingdom (UK)
Need a buy to let mortgage? survey.zohopublic.com/zs/GuCCYx
Claim Capital Allowances here www.optimiseaccountants.co.uk...
Reduce your Capital Gains Tax www.optimiseaccountants.co.uk...
Inheritance Tax Planning www.optimiseaccountants.co.uk...
Need a will or LPA? survey.zohopublic.com/zs/yJCsPW
Get free property investing education here simonmisiewicz.krtra.com/t/kC...

Опубликовано:

22 мар 2023

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Комментарии : 25

@Simon-Misiewicz-US-UK-Taxes Год назад

Avoid the 40% UK Inheritance Tax - Give away your home Read about our IHT services www.optimiseaccountants.co.uk/services/inheritance-tax-advisors/ Need a buy to let mortgage? survey.zohopublic.com/zs/GuCCYx

@Catmanxii Год назад

My daughter owns everything that would be mine, it's been slowly transfered as gift in dribbles over a 20 year period because I trust her fully to be both smart & fair & she's never disappointed me in the 40 years she's been around.

@Simon-Misiewicz-US-UK-Taxes Год назад

That is lovely to read ❤️

@issacissac5140 9 месяцев назад

I wish you were my mum

@moa3008 2 месяца назад

How come you don’t want to give the government 40% inheritance tax?

@Simon-Misiewicz-US-UK-Taxes 2 месяца назад

I know right? It should be at least 80% 😂

@olitonottero7620 9 месяцев назад

super helpful thank you

@Simon-Misiewicz-US-UK-Taxes 9 месяцев назад

Thank you so much for the kind comment 🙏

@nikkion2140 Год назад

Thank You

@Simon-Misiewicz-US-UK-Taxes Год назад

You are welcome 🙏

@rbir2653 6 месяцев назад

If you gift your house to your kids and they divorce do you have to live on a park bench?

@Simon-Misiewicz-US-UK-Taxes 6 месяцев назад

You have to do a room share on park benches nowadays 😂

@AlHR23 Месяц назад

Thanks for the informative video. Would it be possible to leave the property to the children in a trust and continue living there without facing IHT?

@Simon-Misiewicz-US-UK-Taxes Месяц назад

Yes but only if you pay market rent to the trust

@AlHR23 Месяц назад

Thank you for the reply. If I could bother you with another question. Can I put buy to let properties in a ltd company and leave them to my children without paying IHT while both recieving the rents while I'm alive and safeguarding the properties from my children's spouses in case they divorce while I'm alive. Thanks

@Simon-Misiewicz-US-UK-Taxes Месяц назад

@AlHR23 you might want to get some tax advice given the complexity of your scenario to avoid costly mistakes being made. A consultation of a few hundred will save a lot more in the long run.

@Simon-Misiewicz-US-UK-Taxes Месяц назад

@AlHR23 the answer to your question is sadly not

@letsplaywitheesa1668 8 месяцев назад

Great video! Only question: IHT is applicable to the estate of a deceased person, how come a couple’s life time allowances are come alive at one person’s death. Couple don’t die at the same time. Please clarify. Gift of any amount wont attract IHT or only upto the worth of £325k?

@Simon-Misiewicz-US-UK-Taxes 8 месяцев назад

Hi there. Or a couple of things that you are asking questions about. The first thing is inheritance tax. The ides to lifetime allowance is passed from one person to another upon death. This means that the ice two lifetime mounts is £650,000 for the couple. There is no inheritance tax on guests, only capital gains tax on certain assets.

@letsplaywitheesa1668 8 месяцев назад

@@Simon-Misiewicz-US-UK-Taxes Thank you for such a prompt and detailed answer.

@Simon-Misiewicz-US-UK-Taxes 8 месяцев назад

Always welcome 🙏

@kalpnashah4030 8 месяцев назад

Will we pay tax on giving our rented house to our adult children if we gift to them and receive rent for us as pension ? Our main residence is worth less than 1m

@Simon-Misiewicz-US-UK-Taxes 8 месяцев назад

You will pay capital gains tax on the gift to your children. There is a possibility of using trust, but that is too complicated to speak on a RU-vid forum.

@kalpnashah4030 8 месяцев назад

Thank you for replying as we bought 2nd property in 2021 it’s not gained much equity so you only pay on the different ie gain ? At 18 percent.

@Simon-Misiewicz-US-UK-Taxes 8 месяцев назад

@kalpnashah4030 you only pain tax on the gain less your annual CGT exemptions of £6,000 per person. The 18% tax rate is for basic rate taxpayers and 28% for high rate taxpayers