How to shield your family and pass on inheritance

IN YOUR GIFT For grandkids

- BY ELLA WALKER

INHERITANCE tax is unpopular and confusing and the Budget is expected to bring about some changes.

Reme Holland, financial planning partner at accountancy firm Albert Goodman, counsels: “Seek advice first before you do anything”

Here are the best tips.

How does it work?

“Every individual has a nil rate band of £325,000, which means you can have assets worth up to £325,000 and not be liable for any inheritance tax,’ explains Holland.

Are there exemptions?