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Inheritance Tax Planning

Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who has died. The current threshold for Inheritance Tax is £325,000 meaning that if you have assets above that level, then Inheritance Tax may be payable.

For most people, their main financial asset is their property. Due to property price increases, even people who do not consider themselves to be wealthy now find themselves in a position where their family home, in addition to their other assets, means that they may have crossed the Inheritance Tax threshold.

If you do not plan for Inheritance Tax, your family could be faced with a large tax liability when you die, considerably reducing the value of the estate passing to your chosen beneficiaries. The current Inheritance Tax rate is 40% on all assets above the threshold.

It is possible to reduce or eliminate Inheritance Tax liability with careful planning.

You may be able to:

There are a variety of legal methods of reducing Inheritance Tax liability. We are specialists in Inheritancecontact us Tax planning and we will examine your circumstances and advise you on the most suitable methods for you.

Please contact us for a consultation.