Sadly, inheritance tax (IHT) accounted for around £5bn of tax revenue last year – is hitting families harder than ever.
The key to IHT, trust and estate planning is to plan ahead. Around 70% of people die without a will, which causes added IHT problems. Also, setting up a trust in your will, will mean that any assets in the trust will likely be exempt from inheritance tax.
We know that it is a subject that people do not want to talk about. However, leaving lifetime planning to the last minute leads to missed opportunities to reduce the tax liability and thus causing stress, problems and a increased tax liability to your loved ones.
Take advantage of our advice for inheritance tax planning to avoid the mistakes that others make and plan ahead. We will help you to understand the basics of inheritance tax and how it can affect your estate.
It’s important that you take control of your financial future and start planning for the unexpected.
We advise on the full spectrum of IHT planning, from what should be included within basic tax efficient wills, through to more complex IHT matters such as bespoke trust structures.
We can also arrange for wills, deeds of variation, trust deeds and other legal documents to be prepared if necessary.
We can help you with specialist tax advice
Contact us today to find out how our experts can help you.