Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Anne Robinson Gives Away £50 Million Fortune to Avoid Inheritance Tax

by May 22, 2024
May 22, 2024
Anne Robinson Gives Away £50 Million Fortune to Avoid Inheritance Tax

Television presenter Anne Robinson has revealed that she has distributed her £50 million fortune among her family to avoid paying inheritance tax after her death.

The 79-year-old, known for her roles on Countdown and The Weakest Link, explained her decision in an interview with Saga magazine, stating, “I’ve given it all away. I don’t want the taxman to have it. I’ve spread it about quite a lot, to the children. They may as well enjoy it now.”

Robinson, who lives in the Cotswolds, has a daughter, Emma Wilson, 53, and two grandchildren, Hudson, 14, and Parker, 13. Inheritance tax, often deemed the most unpopular tax in the UK, is levied at a rate of 40% on estates valued over £325,000, but it only affects less than 5% of estates according to recent House of Commons research.

In her interview, Robinson, who recently confirmed her relationship with Andrew Parker Bowles, the Queen’s ex-husband, stated she had “no idea” of her exact net worth. She emphasized that her primary desires now are “good health and family happiness.” Renowned for her sharp remarks and the catchphrase “you are the weakest link, goodbye” on The Weakest Link, Robinson has also been appointed as Saga’s new agony aunt starting in June.

When questioned by Saga about her relationship with Parker Bowles, Robinson bluntly responded, “Yes. Full stop. Mind your own business.” The couple reportedly met over a year ago at a friends’ lunch.

In the fiscal year 2020-21, HM Revenue & Customs reported that estates from less than 4% of deaths paid inheritance tax, contributing £5.76 billion to the treasury. Gifts made more than seven years before the donor’s death are exempt from inheritance tax, while those made within seven years may be taxable. Gifts to charities, political parties, or for national purposes are excluded from the net estate for inheritance tax purposes.

Seven years prior, HMRC won a landmark ruling against the Liberty tax avoidance scheme, which involved high-profile investors, including Robinson. The scheme, intended to save tax on substantial sums, was ruled artificial and uncommercial. Robinson was believed to have invested £280,000 in the scheme to avoid tax on £4 million. Post-ruling, she asserted, “I owe no tax. Lucky me!”

The ruling against the Liberty scheme enabled HMRC to recover £18 million, underscoring the financial consequences of engaging in tax avoidance schemes. Penny Ciniewicz, HMRC’s director general for customer compliance, reiterated the warnings about such schemes at the time.

For Robinson, the decision to give away her fortune is not just about safeguarding wealth but also ensuring her family benefits now rather than leaving it to the taxman.

Read more:
Anne Robinson Gives Away £50 Million Fortune to Avoid Inheritance Tax

0
FacebookTwitterGoogle +Pinterest
previous post
UK Inflation Drops to 2.3%: Prompting Potential August Interest Rate Cut
next post
IMF Predicts Three Interest Rate Cuts for UK in 2024 Amidst Economic “Soft Landing”

You may also like

Which Suitcase Components Provide The Most Value When...

May 7, 2024

Zara enters resale market with pre-owned service

October 21, 2022

Labour mayors urge Sunak not to scrap, delay...

September 27, 2023

You can literally feel Apple’s new ‘F1: The...

June 13, 2025

Urgent action needed to help UK SME exporters...

October 10, 2022

German companies are to increase their investment in...

May 17, 2024

Workplace flexibility is essential to offset Rishi Sunak’s...

February 13, 2023

5 Things to Consider When Choosing a Crypto...

November 20, 2024

Why Small Business Financing is Evolving Beyond Traditional...

November 4, 2024

UK Businesses Face Elevated Financial Distress Amidst European...

February 5, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Padel club boom sees 3,200 venues built in 2024 as global popularity accelerates

      June 27, 2025
    • Sweet or taxable? M&S strawberry sandwich sparks new VAT debate

      June 27, 2025
    • Starmer thanks business for footing tax bill

      June 27, 2025
    • UK SMEs must strengthen cybersecurity as geopolitical threats escalate, warns Espria

      June 27, 2025
    • Jeremy Hunt ‘made a mistake’ targeting non-doms, says shadow business secretary

      June 27, 2025
    • Small firms raise alarm over Companies House rule change forcing profit disclosure

      June 27, 2025

    Categories

    • Business (8,326)
    • Investing (2,074)
    • Politics (15,824)
    • Stocks (3,172)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved