Inheritance Tax

Inheritance Tax is not always a pleasant topic to consider but it is important for anyone with significant assets to protect wealth for the benefit of family and future generations to come.

With careful planning, we can help you mitigate the prospective liability to Inheritance Tax on death whilst still meeting your ongoing requirement for income and capital.

We can also offer advice and assistance dealing with the tax liabilities arising during the administration of an estate.

Will Planning

At the very least, the preparation of a correctly drafted will can ensure that the property in your estate is correctly distributed to your family and other beneficiaries according to your own wishes and in a tax-efficient manner.

We can liaise with you and your solicitor to update your will ensuring that it achieves your own goals whilst meeting your family's needs whilst mitigating any Inheritance Tax liabilities.

Inheritance Tax Planning

Lifetime Planning

Successful lifetime planning should seek to reduce the potential liabilities to Inheritance Tax and organise your estate into a form which minimises any administrative burden after death.

This requires an understanding of your current position, careful consideration of your future objectives and goals, and how best to structure your assets or business.

Our expert advisers will take the time to understand your needs in order that we can offer the best solutions for you and your family.

Trusts and Estates

The word trusts conjures up a world of Dickensian office clerks with quill pens sitting in dimly lit rooms! Contrary to this, in the modern world, the use of trusts can offer solutions to families wishing to protect wealth and pass assets down the generations. Trusts are often used in wills to provide for minor children.

We can deal with the preparation of trust accounts and tax returns, as well as advice on the use of trusts for inheritance tax planning and drawing up tax-efficient wills which meet your own and your family’s needs. 

Trusts will always play an important part in any inheritance tax planning exercise however it should not be overlooked that trusts have other uses such as protecting family wealth, providing for vulnerable persons, and minor children.

We can provide trust planning advice to clients and liaise with their legal advisors in respect of both existing trusts and the creation of new trusts.

Maximising Reliefs

Utilising the Inheritance Tax reliefs available can be a useful tool in reducing Inheritance Tax liabilities and, with some careful forward planning, a lot can be achieved.

There are many reliefs available which can reduce the value of your estate for IHT purposes and we will be happy to advise you on how to utilise them to their full potential.

We can also help you avoid the common pitfalls which could reduce the availability of certain reliefs including Business Property Relief and Agricultural Property Relief.

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