Energy bills. As discussed in our previous blog post they’re something we all must pay as part of our monthly outgoings, but struggle to have full control over the price we pay.
Most of us know about the '7 year rule' that allows the tax man to 'claw back' a portion of the tax liable on gifts made less than 7 years before one's death as 'part of their estate'. However, there are circumstances where gifts and transfers made a much as 13 years before death can be liable to the estate tax. Here, we'll explore how that can happen, and what to do about it.