Mark McLaughlin highlights a relatively easy strategy to save inheritance tax over time.
The acronym ‘KISS’ (‘keep it simple, stupid’) refers to a design principle originating from the US Navy in 1960. However, it can sometimes be an apt principle in an inheritance tax (IHT) context!
Some taxpayers engage in sophisticated planning arrangements to reduce the possible IHT liability of 40% on their death estate. However, with a little forward planning, a relatively simple strategy can achieve significant results.
