Inheritance Tax Planning

Inheritance Tax (IHT) is a tax levied on people inheriting assets and certain gifts.

IHT is no longer limited to very wealthy people, which is what it was originally designed for. It is a growing problem affecting estates with a value of over £325,000 09/10.

In some case this tax liability forces beneficiaries of wills and gifts to sell assets. In some cases beneficiaries cannot access or cash in an inheritance but still have to pay inheritance tax.

Without Tax Planning many peoples estates will incur avoidable Inheritance Tax.

Your estate includes the value of your property, savings, shares and investments, life policies and personal belongings anywhere in the world.

Although assets passing between husband and Wife/Registered Civil Partners are tax exempt, this only postpones matters.  Inheritance tax will eventually be payable upon the death of the surviving spouse/partner.

Timely and simple planning steps with advice from professionals can reduce your inheritance tax bill substantially.