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inheritance tax

How gifting from surplus income can mitigate an inheritance tax liability
March 13, 2023

Emily Minett reveals a potentially significant inheritance tax exemption when it comes to gift-giving.

When it comes to making lifetime gifts, many people are familiar with the “seven-year rule” in that if the donor making the gift survives seven years from the date of the gift and does not reserve a benefit in the asset given away, the value of the gift will not be taken into account on the donor’s death for inheritance tax (IHT) purposes.

Inheritance tax: Protecting your family business
October 12, 2022

Milestones in the life of a family business can present both opportunities and risks. Frederik Bjorn and Clare Hetherington of law firm Payne Hicks Beach look at ways to take advantage of the former while reducing the latter.

Milestones in the life of a family business can present both opportunities and risks. Frederik Bjorn and Clare Hetherington of law firm Payne Hicks Beach look at ways to take advantage of the former whilst reducing the latter.

Keeping it in the family: Why proactive succession is on the rise
October 21, 2021

For fans of the hit HBO TV show Succession, the process of proactively handing over a family run business to the next generation probably looks anything but straightforward.

For fans of the hit HBO TV show Succession, the process of proactively handing over a family run business to the next generation probably looks anything but straightforward.

Warring siblings, hidden secrets and ulterior motives make for great television, but an undoubtedly difficult situation for fictional media tycoon Logan Roy, played by Brian Cox, to deal with.

Why the Cayman Islands is a preferred jurisdiction for family offices
October 14, 2021

The Cayman Islands is a highly attractive jurisdiction for setting up family offices and in recent years, many ultra-high net worth families have chosen to make the British Overseas Territory in the western Caribbean Sea both their home and their headquarters for their global operations. 

The Cayman Islands is a highly attractive jurisdiction for setting up family offices and in recent years, many ultra-high net worth families have chosen to make the British Overseas Territory in the western Caribbean Sea both their home and their headquarters for their global operations.

FB Roundup: Samsung, Ferragamo, Swarovski
May 3, 2021

Samsung’s Lee family to pay $10.8 billion inheritance tax bill, Ferruccio Ferragamo passes leadership torch to brother Leonardo Ferragamo, Fifth-gen Robert Buchbauer declares Swarovski sustainability goals.

Samsung’s Lee family to pay $10.8 billion inheritance tax bill

The family of late Samsung patriarch Lee Kun-hee has unveiled an instalment plan to pay its 12 trillion won ($10.8 billion) inheritance tax bill, to include large donations to South Korean healthcare and museums.

Put your family business questions to KPMG experts
March 15, 2021

Family business principals will be able to have their questions answered on what tax changes and the UK Budget means for family ventures at a new virtual forum hosted by KPMG Private Enterprise on 22 March.

Family business principals will be able to have their questions answered on what tax changes and the UK Budget means for family ventures at a new virtual forum hosted by KPMG Private Enterprise on 22 March.

The trusted multidisciplinary family adviser and corporate member of Campden Wealth said it will launch its new series of Family Business Leaders’ Forums for 2021 after the successful run last year.

UK Budget 2021: What key changes should family businesses be considering?
March 5, 2021

The Chancellor laid out a supportive package of measures to help businesses, while having one eye on a longer-term plan to balance public finances. Despite recent speculation about changes to Inheritance Tax, Capital Gains Tax, and the introduction of a Wealth Tax, the current thresholds have been maintained for the time being.

The Chancellor laid out a supportive package of measures to help businesses, while having one eye on a longer-term plan to balance public finances. Despite recent speculation about changes to Inheritance Tax, Capital Gains Tax, and the introduction of a Wealth Tax, the current thresholds have been maintained for the time being.

Inheritance Tax: Reliefs, rates and exemptions for families
February 5, 2021

Statistics from the UK government’s tax office show the amount of Inheritance Tax (IHT) families are paying has soared from £2.9 billion ($3.9 billion) in 2011-12 to £5.2 billion ($7.1 billion) in 2019-20—this in part reflects the rise in asset values since 2008, and in particular skyrocketing property prices in London and the south-east of England.

Statistics from the UK government’s tax office show the amount of Inheritance Tax (IHT) families are paying has soared from £2.9 billion ($3.9 billion) in 2011-12 to £5.2 billion ($7.1 billion) in 2019-20—this in part reflects the rise in asset values since 2008, and in particular skyrocketing property prices in London and the south-east of England.

FB Roundup: Stellantis, Samsung, Benjamin de Rothschild
January 22, 2021

Agnelli heir John Elkann in the driving seat of Stellantis, Samsung heir Lee Jae Yong sentenced to prison, Benjamin de Rothschild dies aged 57.

Agnelli heir John Elkann in the driving seat of Stellantis

John Elkann, scion of Italy’s Agnelli dynasty, says the new $51 billion Fiat-Chrysler-PSA mega-merger he masterminded will meet the world’s needs in sustainable mobility.

Family business trends for 2021
January 4, 2021

After a 2020 that was nowhere near what most of us anticipated, it’s perhaps bullish to make predictions about 2021, but Tom McGinness, KPMG’s head of family business, is not deterred from outlining the top 10 topics that he expects to be discussing with those leading family businesses during the coming year.

After a 2020 that was nowhere near what most of us anticipated, it’s perhaps bullish to make predictions about 2021, but Tom McGinness, KPMG’s head of family business, is not deterred from outlining the top 10 topics that he expects to be discussing with those leading family businesses during the coming year.

1.            Reviewing shared purpose

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