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Gifts and Inheritance Tax - 24/11/2017 Many families will be considering financial gifts this festive season.  However, could there be any tax consequences? Inheritance Tax (IHT) is levied on certain gifts made during an individual’s lifetime as well as on a person’s estate when they die.  However, most gifts made more than seven years before death will escape tax. Therefore, if you plan in advance, gifts can be made tax-free and the result can be a substantial tax saving.     There are some exemptions from Inheritance Tax as...

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