Inheritance Tax and Estate Planning
Few of us like to think about dying, but equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us.
Passing on your estate to your chosen beneficiaries requires advanced planning.
Having accumulated wealth through our working life we need to reflect on how this will be shared with HM Revenue & Customs after our death. We provide specific advice on how to reduce any liability through the use of:
- Will planning
- Lifetime gifts to individuals
- The use of Trusts
- Allowances and exemptions applying to specific assets
Few of us like to think about dying, but equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us.Passing on your estate to your chosen beneficiaries requires advanced planning. We will discuss with you your plans and help you to identify what course of action you could take in order that they can be met. Since none of us knows when we will die, this means making the necessary provisions now.
The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby
It is equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse or yourself and your civil partner in your later years. Striking this balance calls for considerable skill and foresight – and
Our Estate planning team is led by Paul Short and assisted by Lucy
- Reviewing your will
- Making full use of exemptions and lower tax rates on lifetime transfers
Optimisinglifetime transfers between spouses
- Transferring agricultural or business property
- Should you create
- Transferring assets into
- Arranging adequate life assurance to cover potential inheritance tax liabilities
- Should you consider the purchase of a
specialisedinvestment to reduce IHT?
If you would like to know more about our Inheritance Tax Services, please contact us today.
Meet the experts
Planning to minimise the liability to IHT is a team effort involving you and your professional adviser. To enable long-term planning to be set in place, it is important to carefully consider your planning options before making decisions about your financial planning...
HMRC has issued statistics for the 2018/19 tax year which confirms that they have received £5.4 billion in Inheritance Tax in this period. The Inheritance Tax take by HMRC has been growing for the last 9 years and shows another increase of 3% over last year’s...
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Contact us today to find out how we can help and let us provide a tailored quotation suitable for your business.