INHERITANCE TAX PLANNING
We understand that you have worked hard throughout your whole life and it may be important to you that your loved ones benefit from the wealth you have accumulated. With the right planning and advice, you may be able to reduce / eliminate the amount of Inheritance tax payable on your estate, but more importantly leaving a legacy for those who matter to you the most.
Everyone has a personal threshold of £325,000 and there can be many different allowances and reliefs that may apply to increase this. When you die, tax can then be levied at up to 40% on assets over and above your personal threshold and this will need to be settled by your personal representatives. The various limits, reliefs and allowances can appear confusing, but as qualified advisers we can establish what applies to you, but more importantly then provide the best solutions to meet your needs.