Inheritance (IHT), gifts and income tax

·        Do not gift it all away - a 20 year plus holiday is expensive.

·        Discuss this area carefully with your IFA to ensure that your objectives are met, whilst at the same time securing your retirement and minimising IHT.

·        Remember your house is an asset - consider inheritance tax implications.

·        Make sure your will is up to date and that it will achieve what you want it to.