Inheritance Tax

If you'd like to leave some money to your family, our IHT planning strategies can ensure you don't leave them a big tax bill too.

Inheritance Tax

Rising property prices have created a generation with greater wealth at it’s disposal. While this is good news for these people - and the families they want to pass it on to - the bad news for their relatives is that they might be left with something they hadn't anticipated: a hefty IHT bill.

No one embraces the prospect of giving away 40% of their estate to the government when they die. Effective IHT planning can save families significant amounts of money, enabling older generations to pass on more of their wealth to their children and grandchildren - and less to the taxman.

What are the basic reliefs that can be claimed?

  • The first £325,000 of an estate is tax free, subject to lifetime gifts
  • An additional spousal exemption of up to £325,000 on second death
  • Additional relief of £100,000 per person for the family home from 2017/18, rising to £175,000 per person by 2020/21
  • Business property relief
  • Agricultural property relief
  • Annual allowances
  • Gifts out of normal income
  • Gifts to charity
  • Gifts on marriage and small gifts.

How can we help?

Our expert knowledge of the current tax regime enables us to provide a discreet and comprehensive estate planning service which includes advice on:

  • planning and regularly reviewing a will
  • making the most of exemptions and reliefs
  • optimising lifetime transfers
  • transferring assets into a trust or a Family Investment Company
  • tax-efficient gifts to charity.

 

Get in touch

For a free initial consultation, contact Andrew Roberts: andrew@bsrb.co.uk


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