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So just what is allowed?

The state is responsible for and consistently introduces tax planning schemes, so why isn't it playing a greater role in educating the public as to what is legal and what is illegal?

5 May 2016

Following publication of his tax returns, the revelation that David Cameron received a £200,000 gift from his mother once again brings to the foreground the question of what amounts to legitimate tax planning.

In England, Wales and Scotland, everyone has an inheritance tax nil rate band - the allowance available before inheritance tax is a payable on an estate. The nil rate band is £325,000, having been set at that level since April 2009 and is frozen until 2017. Inheritance tax is charged at 40 per cent on the value of an estate over the nil rate band, subject to any exemptions and reliefs.

Inheritance tax was originally intended to affect the very wealthy, but rising property prices, particularly in London and the south-east, have made the tax a problem for more and more families; the value of the family home will invariably eat up the majority, or all, of the nil r...

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