Inheritance tax is only for the super-rich, so I do not need to worry!
Turning a house into a home is a thing to cherish, and takes time. Your home is also likely to be the biggest single asset in your financial estate. As a result it can impact how much of your estate is passed on to your loved ones in the event of death.
Inheritance tax is payable on death, but can also have to be paid during your lifetime depending, on how you ‘gift’ away assets.
Each year the UK Government reviews the tax rates payable, the reliefs available, and the amounts over which it becomes payable and how it treats gifts during your lifetime.