Suggestions

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Could Inheritance Tax be included upon death, along with being able to select which accounts are exempt from it

Inheritance tax on one’s estate can be limited if there is sufficient planning. For example pensions and investments (wrapped in a life insurance payout to named beneficiaries) are exempt. The ability to indicate the tax threshold for this would also be needed. I am British, and the IHT commences at £330k for example

Related: www.money.co.uk/guides/inheritance-tax-the-basics

4 votes

Tagged as Suggestion

Suggested 22 January 2023 by user Julien Fisher

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  • 22 January 2023 Julien Fisher suggested this task

  • 23 January 2023 Kyle Nolan approved this task

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    +1. Simple is probably good, especially given different tax jurisdictions. But there may be three aspects - the rate of income tax (flat rate, progressive tax rates in final year); any tax-free allowance (nil, user set amount); and the population of assets impacted (tax-deferred, taxable, …)

    15 September 2024