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  • Estate & Inheritance Tax Planning

    Estate planning involves making decisions and creating a plan as to how to pass your assets to the intended beneficiaries in the most tax efficient manner. A significant part of estate planning will be to minimise the Inheritance Tax (“IHT”) bill. Inheritance Tax is no longer a tax reserved for the wealthy and is the tax paid on assets left when someone dies, after any IHT allowances or exemptions are applied. There are a number of planning opportunities for IHT and so there are plenty of things you can do, during your lifetime, to ensure that you pass on maximum wealth to your intended beneficiaries.

    Expert tax advisers

    We are able to draw on the range of IHT planning tools that can be used to manage your IHT liability. We can assess your current IHT exposure after reviewing your current assets and personal circumstances.

    A breadth of knowledge

    We are a team of chartered tax advisers who are able to provide you with inheritance tax advice, in addition to other tax planning services.

    Bespoke advice

    Our approach would be to listen to what you would like to achieve and then provide advice to match your wishes.

    Estate planning

    Your estate will be as unique as you are. Your estate will be made up of everything that you own including family businesses, property portfolios, savings, investments and overseas assets. Life events such as births, marriages, death and divorce can all impact unprotected legacies. This demands consideration of the full range of options available to enable your cash and assets to be protected and passed on as you wish.

    Effective estate planning can reduce exposure of assets to threats such as divorce, separation and bankruptcy, and help to reduce tax liabilities for the second generation and beyond. It is important your estate planning strategy aligns to your wishes and specific circumstances, such as the make-up of your estate. While Inheritance Tax is a tax on your wealth it can also apply to certain transfers made during your lifetime (e.g. gifts made before you die or a transfer into trust). The current rate of IHT is 40% and the current nil rate band is £325,000 and if you are married or in a civil partnership you have a combined nil-rate band of £650,000. Above this threshold, the 40% IHT rate applies but can be slightly reduced to 36% if you decide to leave at least 10% of your estate to charity. Given the increase in property prices, it is no longer just a tax for the wealthy. Many people’s homes are now valued in excess of the £325,000 threshold and so IHT planning is essential. The amount of IHT your estate will have to pay depends on a number of factors including your domicile, your assets held and your marital status.

    We can provide the following estate planning and Inheritance Tax services:

    • Review of domicile position to confirm your tax status for IHT purposes.
    • Reviewing your estate to ensure that it is efficient from an IHT perspective.
    • Advising on IHT efficient assets to benefit from reliefs.
    • Review of business status to confirm if reliefs such as Business Property Relief will be available.
    • Advice regarding tax free gifts. 
    • Advice regarding the use of trusts (UK and overseas) for IHT and estate planning purposes.
    • Advice regarding the use of life insurance. 
    • Review of will ensure it is reflective of your wishes and effective from a tax perspective. 

    Get in touch with us today

    Call or email us any time or, simply fill out the contact form below and a member of our team will be in touch.

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    Please provide as much detail as possible in regards to the reason for your enquiry so our tax advisers can prepare and tailor their response to reflect your needs. We will endeavour to - respond / call you back - to discuss your enquiry and you will not be charged for this time.

  • This field is for validation purposes and should be left unchanged.