Inheritance Tax Planning is a very complex area of financial planning, requires specialist advice and needs to be structured carefully over a period of time. However, once your carefully structured plan has been implemented, it can be reviewed annually in our post advice service which we give to our clients.
When you die the government assesses how much your estate is worth, this includes the cash you have in the bank or in investments or any property or business you own. If this exceeds the Inheritance Tax threshold set by the Chancellor, you (or technically your estate) will pay tax on forty percent of the extra when you die.
Inheritance tax affects millions of people, not just the super rich. Rising house prices and increased personal wealth mean that many of us now have assets in excess of the modest threshold.
Did you know that in the event of your death:
Despite the fact that Inheritance Tax is payable on death, it is viewed by many as a voluntary tax. With forward financial planning and an effective will, your inheritance tax liability can be legally reduced or even avoided altogether.
