Our accountants can help with Inheritance Tax planning.
Inheritance tax combines two of life’s certainties – death and taxes. Increasingly, many people’s wealth and assets are tied up in property, so greater certainty is precisely what they’re looking for. Plus, with house prices remaining high and people living longer, more families and businesses are affected than ever before.
In fact, Inheritance Tax accounts for about 0.8% of government income, raising around £3.6 billion in 2006. For the 2014/2015 tax year, the IHT rate is 0% on the first £325,000 (the “nil-rate band”) and 40% on the rest of the value, at death, of an individual’s tax estate.
Inheritance Tax planning is key. We can help you plan carefully to minimise your Inheritance Tax liability. There are many easily implemented, cost-effective ways to neutralise the tax liability. We can help make sure your family will benefit, rather than unintended contributions to government coffers.