You can give any amount of money or assets to your spouse or civil partner free of inheritance tax, providing they are UK domiciled or deemed domiciled.
Politician Roy Jenkins in 1986 stated “Inheritance Tax, is broadly speaking a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue.”
Many advisers ask this question, and the truth is that planning is severely restricted but sometimes possible.
The summer Budget introduced a new Family home allowance to start in April 2017.
Further to my recent article HMRC have been remarkably swift to reply to the complaint in our blog!