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Can I give my house away and still live in it? Is the nil rate band £1m? What is the backwards shadow? Is paying for school fees or a wedding a gift? These are just some of the questions you may have received from clients on inheritance tax. As Britain’s most hated tax and often referred to as an “optional tax”, there are several ways the charge can be legally mitigated. But there are also several pitfalls and bear traps to avoid. This fast paced and informative session will help you identify the ways your clients can successfully plan to maximise the exemptions and reliefs without making any costly mistakes.  

In this session, Megan Saksida will cover the following:

• Lifetime transfers - how to value the gift
• Lifetime transfers- exemptions and reliefs
• Lifetime transfers- what to watch
• The death estate- exemptions and reliefs
• The death estate- what to watch 

By attending this session you will be able to confidently advise your clients on the most IHT efficient way to structure a gift their home and other assets, on how best to value these lifetime gifts and how to hold them between joint parties. You will also learn how to advise on the implications of keeping property until they pass away, and the factors to consider in deciding which strategy to take.