{"id":548989,"date":"2026-07-19T12:48:36","date_gmt":"2026-07-19T12:48:36","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/548989\/"},"modified":"2026-07-19T12:48:36","modified_gmt":"2026-07-19T12:48:36","slug":"nine-inheritance-tax-gift-mistakes-and-how-to-avoid-them","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/548989\/","title":{"rendered":"Nine inheritance tax gift mistakes and how to avoid them"},"content":{"rendered":"<p>As the inheritance tax (IHT) net captures increasing numbers of family estates, thanks to long-frozen tax thresholds and rising property prices, more and more people are choosing to pass on wealth while they\u2019re still around.<\/p>\n<p>But while giving money and assets away can help reduce the size of your estate \u2013 and, therefore, the resulting inheritance tax bill \u2013 the rules are far from straightforward, and getting them wrong could lumber your loved ones with an unexpected tax bill.<\/p>\n<p>We\u2019ve spoken to financial experts and solicitors to find out the most common ways <a class=\"ck-custom-link\" href=\"https:\/\/www.telegraph.co.uk\/money\/tax\/inheritance\/government-bags-336m-in-failed-iht-gifts\/\" rel=\"nofollow noopener\" target=\"_blank\">giving gifts can go wrong<\/a> \u2013 and the steps you can take to avoid them.<\/p>\n<p>1. Not making the most of annual gift allowances<\/p>\n<p>You can give away up to \u00a33,000 each tax year without the gift forming part of your estate for inheritance tax purposes. This is the annual gift allowance. You can give this amount to just one person or split it between several.<\/p>\n<p>In addition, unlimited gifts of up to \u00a3250 per person can be made each tax year, provided you haven\u2019t already used another IHT allowance for the same recipient.<\/p>\n<p>However, many people fail to make full use of these important allowances.<\/p>\n<p>Joe Cobb, of JMW Solicitors, said: \u201cMany people are unaware that they can give away up to \u00a33,000 each tax year &#8230; If the allowance is not used in one tax year, it can generally be carried forward for one year only.<\/p>\n<p>\u201cAs a result, individuals often miss valuable opportunities to reduce the value of their estate gradually over time.\u201d<\/p>\n<p>How to avoid it: Review gift plans each tax year and make the most of available allowances wherever possible. As they are per person, married couples can effectively pool their allowances to maximise how much is given away from their estate.<\/p>\n<p>Mr Cobb added: \u201cSmall gifts made regularly can produce meaningful inheritance tax savings over the long term.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"As the inheritance tax (IHT) net captures increasing numbers of family estates, thanks to long-frozen tax thresholds and&hellip;\n","protected":false},"author":2,"featured_media":548990,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[240171,240172,114,268,36225,85,11228,46,2101,266,267,688,2865],"class_list":["post-548989","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-better-life-evergreen","tag-better-life-guide","tag-business","tag-finance","tag-financial-planning-for-retirement","tag-il","tag-inheritance-tax","tag-israel","tag-money","tag-personal-finance","tag-personalfinance","tag-retirement","tag-standard"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/548989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=548989"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/548989\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/548990"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=548989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=548989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=548989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}