Inheritance Tax

Inheritance tax has been described as ‘Voluntary’ for the very wealthy (because they can afford to give wealth away during their lifetimes), but a serious problem for the merely comfortable (because they need to keep personal wealth to fund their retirement). Large numbers of ‘comfortable’ people have found that historical increases in property values mean that their estates will be a liable for IHT when they die.

IHT is currently payable where a personals taxable estate is in excess of £325,000. Therefore, if you own your own house and have some savings, life assurance policies or other assets, your estate could be liable.

What does it mean for you and your family?

When you die, tax will be payable on the combined value of your death estate and any gifts made in the preceding seven years which have not qualified for one or other of the lifetime gift reliefs.

The tax payable from your estate, so if you want to make sure that the taxman’s slice is kept to the minimum, you need to start planning now.

How we can help

We can help you put together a personal plan for minimising the IHT on your estate, using one of more of the following key strategies:

  • A tax-efficient Will
  • Life Insurance
  • Gifts in your lifetime, including trusts

Require more information on our Inheritence Tax Service?

If you would like more information on our Inheritence Tax Service, or would like to speak to us direct then call us on 01952 261016. Or if you would prefer, ask us a question online.