Understand how lifetime gifts can affect what you leave behind This brief guide helps you spot how gifts property and other assets form an estate and how earlier transfers may change what your loved ones receive You will learn current thresholds the standard rate and when reduced charity rates apply HMRC treats a gift as anything of value or a transfer at undervalue so selling property below market can create a reportable gift Timing matters gifts can fall outside an estate if you survive long enough and tapering can reduce liability between year three and year seven There is also a residence nil-rate band that can add allowance when passing a home to direct descendants Keep planning early Clear structure now can protect family and help avoid unnecessary payments after your death Key Takeaways You get a plain-English view of how inheritance tax applies to your estate and gifts Current thresholds and standard rate are essential facts to check when planning HMRC counts gifts money possessions and transfers at undervalue as reportable items The seven-year principle can remove some gifts from your estate if you survive the period Residence nil-rate band may add extra allowance when leaving a home to direct descendants What you ll learn in this Ultimate Guide This guide shows what matters when you plan lifetime gifts and how those choices affect what your family may have to pay Quick overview you ll get clear practical coverage of thresholds rates timing and how earlier transfers change what... Login to read full