It's one of the most hated taxes but there are ways to legally avoid paying inheritance tax - you just need to brush up on the law and make sure you're taking advantage of all the allowances
The article outlines legal strategies to reduce or avoid Inheritance Tax (IHT) in the UK, where the tax rate is 40% on estates exceeding £325,000. Key methods include gifting assets to a spouse, placing property or life insurance policies into trusts, and donating to charity. Gifting to children is permissible if the donor survives for seven years. Other strategies involve utilizing annual and wedding gift allowances, as well as consulting professionals for complex cases. These steps can help minimize or avoid IHT liability.
