Inheritance Tax Planning

This is a tax paid on a deceased person’s estate (i.e. their assets), before any beneficiaries inherit and can make a very significant difference to the amount their loved ones receive. Previously, it was a widely held belief that this was a tax payable only by very wealthy people. In reality, this couldn’t be further from the truth, as the dramatic increase in property prices in recent times have meant that more and more people are caught up in this tax than ever before. In order to fully protect the interests of those that you wish to inherit from you, it is essential to take professional advice, leading to the appropriate measures being put in place.

Not all of the estate is subject to tax, but once it is applicable, the rate of tax is 40% (in the tax year 2015/2016) and is payable to HMRC before any beneficiaries inherit. It is often referred to as ‘a voluntary tax’ as people are simply not aware of its implications until it is too late, yet there are a number of perfectly legal ways it can be reduced, or avoided all together.

We can calculate the level of Inheritance Tax you would be liable for were you to die and also explain measures that you could put in place to minimize its impact, in order that more of your money and property etc. actually go to the people that you intend it to.


Top 10 reasons to use an IFA

  • Business protection
    My business needs protecting should anything happen to key employees.

  • Buy to let mortgage
    I’m looking at a second property as an investment.

  • House purchase
    I need mortgage advice.

  • Investments
    I wish to maximize tax efficiency.

  • Inheritance tax
    I wish to look at ways in which I could save tax.

  • Portfolio investment advice – I’m not getting the level of service I need on my existing investments.

  • Investment income – I need to provide additional income.

  • Pension advice – I wish to build up a fund to produce income, when I retire.

  • Retirement advice – I wish to make the most of my pension funds as I’m retiring.

  • Guaranteed investments – I have money in the bank, but would prefer not to take risks.

infoEstate planning is not regulated by the FCA