Inheritance Tax Planning

Inheritance Tax (IHT) is the tax paid on your estate when you die. However, it can also apply to your estate while you're alive, especially if you transfer some or all of it into a trust.

Inheritance Tax at 40% is currently paid on the value of assets above the Inheritance Tax threshold (£325,000 in 2016/17).  Any amendments to this threshold are announced in the annual budget.

In order to plan effectively for IHT it is recommended that you make use of your annual allowances and exemptions. Early planning can effectively reduce the IHT payable by your estate on death.

As part of the financial review we conduct with all of our clients, we will carry out a full review of your estate and provide an indication of the current IHT position. We can advise you on the most suitable estate planning to mitigate any potential IHT.

For further details please contact us.

The levels and bases of and reliefs from taxation are subject to change and their value depends on the individual circumstances of the investor. The value of your investments can go down as well as up due to investment market fluctuations and you may not get back the full amount invested.

The Financial Conduct Authority does not regulate taxation advice.