UK Inheritance Tax, Planning & Avoidance.

Inheritance Tax. Reduce Your Family's Liability using Discretionary Trusts, Insurance and Other Means. Develop an Effective IHT Strategy.

Inheritance Tax could to be one of the biggest liabilities your family is ever likely to face, if you have assets over £325,000 or £650,000 for married couples and couples living within a civil partnership. (If you fail to plan for Inheritance Tax your family may have to sell the family home to fund the bill.)

You have worked hard all of your life to build up a legacy for your family but without effective planning your family could lose 40% of the wealth you have built up above the value of £325,000 for a single person and £650,000 for a married couple.

The choice is simple plan and give the money to your kids or other family members, don't plan and give your money to the taxman.

The Choice is Yours Give the Money to the Taxman or to Your Kids!

If you are single or cohabiting use our calculator to calculate your Inheritance Tax liability, why not try our free Inheritance tax calculator by clicking here

Current UK legislation (as of April 2010) allows for the first £325,000 of your estate to be taxed at zero percent, the Nil Rate Band (NRB) threshold.

If you are a married couple or a same sex civil partnership you can pass all assets freely to your spouse on your death, but this is not the most tax efficient way of ensuring your spouse is cared for.

As part of the pre budget speech in October 2007 The Chancellor announced that married couples and couples in civil partnerships can transfer the nil rate band or the unused portion of the NRB to a surviving partner after second death.

If you are a couple cohabiting or living together, there is no spousal relief from Inheritance Tax, this means that all of your partners assets over £325,000 will be subject to the 40% tax. This 40% is money you, if you were the beneficiary of their Will would not get. There is also no right to transfer the nil rate band. This puts you at a severe disadvantage and as a recent National Consumer Council reports says also potentially puts you in the highest group at risk through not having a valid Will.

£325,000 may seem like a great deal of money, but with the average house price in the south of England being £258,620 and the average price of a detached house in Buckinghamshire being £411,189, you really need to think if your tax liability is going to be a problem for your family after you have gone.

If you are an unmarried couple cohabiting urgent consideration needs to be given to your Inheritance Tax Liability as unmarried couples do not benefit from spousal exemption like married couples and couples living in a formally recognised civil partnership, (see this link for more details).

If you do have assets over £650,000, including the value of your home, life insurance, death in service benefits, the value of foreign property owned, stocks, shares and other investments, we can usually still reduce or eliminate your Inheritance Tax liability in combination with our other partners.

Many people also undertook NRB planning prior to the changes in married couples rights to transfer unused portion of the inheritance tax allowance on death and are unsure what effect their current Wills may have. It may be possible to update or renew existing Nil Rate band Wills to offer additional protection against potential long term care costs.

If you still have concerns about inheritance tax or your current Wills or would like to understand how you can now protect significant portions of your assets against care costs please give us a call to arrange a free consultation..

Buckinghamshire, Berkshire, Oxfordshire, Northamptonshire,

Inheritance Tax. Reduce Your Family's Liability and Discretionary Trusts, Insurance and Other Means Used To Develop an Effective IHT Strategy.

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UK Inheritance Tax Reduction, Planning & Avoidance Avoid

UK Inheritance Tax Reduction & Planning

Inheritance Tax. Reduce Your Family's Liability using Discretionary Trusts, Insurance and Other Means. Develop an Effective IHT Strategy.

Contact us on 0845 3700 240