Financial Advice You Can Trust

Inheritance Tax Planning

Inheritance tax is a tax payable by a person, usually a family member who inherits an Estate from someone who has died.  It is levied if the value of everything in the Estate (property, investments, savings and possessions) less the value of any debt owed by the Estate (mortgages, loans, bills etc) is more than £325,000.

There are however, ways to reduce this liability which would ensure your beneficiaries receive what's rightfully theirs.  There have been some recent changes which have relaxed the rules; unfortunately many people are still caught out by this tax.

Most people think inheritance tax doesn't apply to them, only those who are wealthy, but as a result of significant increases in house prices over the recent years, a large number of people will now be subjected to it. Even those of moderate wealth, a mortgage free property and some cash in the bank and an investment or two should be aware of their options.

Anything above the nil band rate can, without proper inheritance tax planning be subject to 40% tax.  Make sure your loved ones aren't stuck with a tax bill that amounts to more than you paid in your lifetime.
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