Inheritance Tax Planning

What is Inheritance Tax?

Inheritance Tax is the potential tax payable on your estate. If your estate is worth more that £325,000, your family could pay tax of up to 40% on the excess. So for every £100,000 you own on your death over this threshold, at least £40,000 could be paid to HM Revenue & Customs. In essence, the more you have, the more that goes to the taxman. (Figures quoted are for the 20011/12 tax year.) 

There are many ways to reduce your estate's potential liability to Inheritance Tax. We can help you plan now and work out the best approach for your own circumstances to ensure that you take full advantage of the many allowances, exemptions and solutions available. 

Estate Planning will help you:- 

  • Control your estate through a will
  • Reduce your taxable assets
  • Give away your assets as gifts where appropriate
  • Use Trusts to help your estate planning
  • Know how IHT is paid
  • Know how much you are worth

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