People concerned about Inheritance Tax

Helping you create a legacy and ensure your assets stay within your family

Most people don’t like the idea of paying Inheritance Tax when they die. You’ve worked hard to build your wealth and, naturally, want control over what happens to it when you’re no longer around. You want to ensure that your assets stay within your family and that they’re allocated according to your own personal wishes.

Currently, Inheritance Tax is payable if the value of an estate is over £325,000 for an individual (or £650,000 for a married couple or civil partners) at a rate of 40%.

The amount of Inheritance Tax your estate will have to pay will largely depend on how much financial planning you have undertaken. The earlier you start the better, but last-minute action can also be valuable in the long term.

There are many ways to eliminate Inheritance Tax.  One possibility is purchasing a Whole of Life Insurance policy that can be used to pay the tax liability on your estate. In order to establish the best strategy for you, we create a thorough financial plan that accounts for your entire financial situation.

As Financial Planners, we help you eliminate Inheritance Tax by using various gifts, allowances and exemptions.

Here’s what we do:

1. Listen

At a free initial consultation, we begin by understanding what is important to you and your current financial goals. We also collect your personal information and explain our fee structure. The consultation will close with a summary of our findings, and our suggested next steps towards a tailored solution to your needs. There is no obligation to proceed at this stage, and no costs will have been incurred.

2. Research

The next stage is to analyse your financial situation. We will use the information gathered about you to thoroughly analyse your financial position, using our extensive knowledge of financial markets, then diligently research potential solutions for your needs.

3. Advise

We will create a bespoke financial plan, recommending the best financial solutions to achieve your goals. At a second meeting, we will explain our research and recommendations so that you can make fully informed decisions. We will take you through our report step-by-step, and you are free to take the report away and give it due consideration before agreeing to move forward to the next stage.

4. Implement

Once you feel that you can make a fully-informed decision to proceed, and you have given us your consent to do so, we will begin the process of implementing our recommendations. We will assist you in completing all the relevant forms and ensure your applications are processed by the relevant investment houses and providers in a timely manner.

5. Review

It’s important that your plan is reviewed regularly to ensure that it is optimised for any changing personal circumstances, economic fluctuations, tax legislation and regulations. Finally, we will provide you with online access to view your investments at the touch of a button.

Inheritance Tax and Capital Gains Tax mitigation – Michael
Michael had a large tax liability, as well as a portfolio of Buy-to-Let properties, so needed help mitigating both Inheritance Tax and Capital Gains Tax.
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