Inheritance tax planning

It used to be said that Inheritance Tax (IHT) is only a problem for the very wealthy. With the current levels of property prices and the 'nil rate band' frozen at £325,000 until the end of 2020/2021 there are many people that potentially fall into the IHT net.

Without adequate thought, your estate could find itself paying tax unnecessarily. You need to ensure you have drawn up a will that reflects your wishes and is structured so as to take into consideration the impact of IHT.

We recommend, among other things, that clients consider taking advantage of the annual exemptions for lifetime transfers, the exemptions for gifts in consideration of marriage, and the exemption regime for gifts made out of income.

Business clients that have trading companies will need to ensure those companies are structured in such a way to ensure that your estate will be entitled to 100% Business Property Relief.

If you are non-domiciled for Inheritance Tax and you have property abroad, or if your spouse is non-domiciled, you are going to need specialist advice.

The first priority for most people is to ensure that their family will be financially secure. Which is why we provide a sensitive, considerate and professional service designed to secure your family's future.



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