Your UK Annual Tax Exemption
| Money : Inheritance Tax Each year in the UK at the time of writing you are able to give away up to £3,000 a year completely free of tax. This is an attractive way of whittling down the sums of money you have for inheritance tax to be levied on if done steadily over the course of, say, 20 years, you could save a large £60,000 from having the tax whacked on it, assuming the value of your total estate is above the threshold which - let's face it - almost everyone with just a house hits these days! Note you can also use an exemption from the last tax year too if not used at the time. So, a married couple can gift £6,000 of assets each year which means a total of £120,000 over 20 years, and save around £48,000 in the process of inheritance tax for those who survive them - not bad!
 Questions about inheritance tax:
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