Three ways to still give gifts under new inheritance tax rules

• Giving financial gifts to loved ones early can reduce your Inheritance Tax bill, especially with upcoming changes.
• From April 2027, defined contribution pension wealth will be subject to Inheritance Tax, potentially affecting many more estates.
• Gifts made within seven years of death could be subject to Inheritance Tax, but allowances permit smaller gifts without incurring tax.
• Regular gifts up to £3,000 annually, smaller gifts of £250, and wedding gifts are exempt, along with gifts from surplus income if properly documented.
• Consulting a solicitor is crucial for creating a tax-efficient will and optimising Inheritance Tax strategies, especially with recent changes.

IN FULL

Inheritance tax rules have changed - here are three ways to give gifts without creating a big bill