Inheritance tax is a major source of worry for many people who understandably fear that the government will take the lion’s share of the money in their estate, leaving future generations with only a fraction of the wealth they worked so hard to create.
We understand these anxieties and can help take the stress out of planning for inheritance tax on your money, property and possessions. It is a complex area and our specialist advisers have an intimate understanding of the best way to plan ahead to help minimise the amount of inheritance tax your estate will pay.
Inheritance tax advice is recommended if you have assets worth more than the current inheritance tax threshold of £325,000. Your estate may have to pay inheritance tax at the current rate of 40% on its value on anything above this amount.
Inheritance tax matters we can assist you with include:
1. Setting up tax efficient will trusts
2. Making lifetime gifts
3. The transferable nil rate band legislation allowing married couples and civil partners to minimise inheritance tax
4. Making tax-efficient charitable bequests
5. Tax relief available on agricultural and business property; and
6. Inheritance tax-saving arrangements for high-net-worth estates
Our specialists may advise, for instance, on tax efficient arrangements for your beneficiaries. You can be certain that our up-to-date knowledge will help you take advantage of all the inheritance tax planning strategies available.