Merryn Somerset Webb

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7,282 appearances 48 recordings 1 series first heard Apr 2026 last heard 2d ago

Merryn Somerset Webb’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 48 in all, peaking in Jun 2026 with 13.

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Merryn Talks Money · How to Turn Income Into an Inheritance Tax Break · 16 Sep 2026 podcast

Because as you said, you can't just give away chunks of capital.

But as everybody knows, you can convert capital into income in all sorts of ways.

So if you're looking at this and you're thinking, well, I don't have that much income, but I do have quite a lot of capital, how can I make that capital into income so I can create a surplus that I can then give away?

That seems like the

Cool question here.

Yeah.

I mean, I like the I like the purchase annuity idea because that means that the the money that you take out of that that you give away, uh the bit that is tax-free considered to be your capital already, that really is taken out of the tax net.

Because one of the things about this, if you look at creating income outside, say, your ICEF, for example, you create that income, let's say you're a forty percent taxpayer.

You create the income, you pay that 40%.

And that's nice because you took it out of the IHT net, but the IHT bill on that would have been 40% anyway.

So you're moving it out more quickly, but it's not necessarily as tax efficient as one might think because you're paying the income tax on it.

The few bits that would make it very tax efficient is creating income from your ISA, which you do not pay income tax on.

and passing that on.

So that would be the first port of call, creating ICER income and passing that on as quickly as possible, right?

And then the second part is the purchased life annuity, because again, some of that allows you to pass on the capital outside both the IHT, the income tax and the CGT net.

The second part.

But yeah.

But same, same.

I mean what once once you have the money it it's which bit is which bit?

Who knows?

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