Can I give my home away to avoid Inheritance tax (IHT)?
There can be tax implications if you give your home away to your children or someone else, especially while you're still alive.
If you give your home away and continue to live in it, your estate or the person you gave your home to might still have to pay:
- Inheritance Tax on the property when you die
- other taxes such as Income Tax
- If you would like to discuss your options in regards to gifting your house it is important you get financial advice to discuss your options.