Inheritance tax

If you would like to discuss any of the issues outlined below, please contact us.
Inheritance tax (IHT) is a tax on estates and gifts.  Many feel that, in today's economic reality, what was initially a tax for the rich is now a real burden on many ordinary people.

You may have spent a lifetime of hard work, careful financial management and contributing to the prosperity of the nation by generating income and employment and, above all, paying tens of thousands of pounds in tax (including NI).

It can be galling to face the prospect that the State will raid a second time what has been prepared for retirement and is earmarked to protect the family and enable the hard industry, job and wealth creation to continue.
It is right to consider planning to mitigate IHT.  However, by its very nature, such planning is long-term and needs to be revisited.

Typical methods include:
  • use of Business Property Relief (BPR) to protect trading assets
  • use of trusts
  • planning involving spouses
  • other planning, including possible offshore arrangements
  • insurance