Inheritance tax planning
There is a general misconception that Inheritance Tax (IHT) is a tax applicable only to the wealthy. Unfortunately, with the recent rise in property prices, this is no longer the case. With IHT now being payable on estates in excess of £ 325,000 (2010/11) an individual owning a typical three bed-roomed house in London (UK) could easily find themselves with a chargeable estate, resulting in much of their accumulated wealth being given to the state instead of their loved ones.
Fortunately, IHT is one of the few taxes that with careful tax planning and the provision of a well thought out Will, can in many instances be greatly reduced, if not eliminated altogether. Such planning could include the use of Potentially Exempt Transfers (PET's), and various other planning opportunities, to ensure that your well earnt assets can be passed on to those dearest to you.
We can not only assist you with the tax planning but also introduce you to specialist will writers to assist you in writing your will.
Should you require further information, please do not hesitate to contact us.