Inheritance tax 

Inheritance Tax (IHT) is a tax levied on an individual's estate after their death, deducting any liabilities, exemptions and reliefs. With a potential tax rate of 40%, it is worth considering how to reduce your inheritance tax liability and ensure that your wealth passes to your chosen beneficiaries. 

There are a number of strategies that can help to reduce an eventual IHT bill, including tax-efficient wills, the use of exemptions for business assets, lifetime gifts, transfer of assets, trusts, and even something as relatively straightforward as assignment of life policies.   

We aim to work with you throughout your lifetime to become your trusted advisor, and to develop plans with you to meet your current needs and future ambitions.  

We take a holistic approach to IHT planning whilst balancing the following four factors: 

• Keeping assets within your estate to fund your current lifestyle and future ambitions. 

• Insuring your life, if appropriate, to provide funds on your death to assist your beneficiaries to pay any tax due. 

• Spending funds: it is an important factor to remember to enjoy yourself in your lifetime. 

• Succession planning by providing lifetime gifts to your beneficiaries, and by utilising exemptions and reliefs to reduce your estate over the remainder of your life.