Inheritance tax is essentially a voluntary tax, in that with proper planning there is no need for your estate to pay any tax on your death. One of the most useful tools is the potentially exempt transfer, or PET. Under the PET rules any gift made to an individual is exempt from inheritance tax if

UK-resident landlords are generally taxed on rental profits made wherever the properties are situated in the world. A record of the rental income, expenses incurred and capital items purchased must be kept. Separate sets of records are needed if the properties are let as ‘furnished holiday lets’ because these properties are taxed under different tax

Should a property letting business be run by individuals who wish to transfer the property into a limited company then there will be a CGT charge on the transfer at market value. The CGT charge can be wholly or partly postponed by use of an ‘incorporation relief’ (‘hold-over’) claim where the exchange is wholly or