Inheritance Tax
- Will my beneficiaries have to pay tax when I die?
- Will my house have to be sold?
- Can I reduce the tax liability on my death?
This is a form of taxation that catches many people unaware at a time when it is often too late to do anything about. This may result in the Inland Revenue receiving a substantial proportion of an estatewhich otherwise could goto the beneficiaries.
Generally, the earlier that clients start to plan to either reduce the tax liability, or preferably avoid it altogether, the easier it is to deal with. There are a number of different ways in which Inheritance Tax can be reduced and we work with our Clients and their other professional advisers to agree and implement the right tax planning strategy taking account of their wishes. In some cases, it is possible to continue to provide an income from a capital sum for the client whilst also taking steps to protect the capital from Inheritance Tax.
If clients do not have a Solicitor or Accountant then we can normally recommend a suitable Firm.
The Financial Services Authority does not regulate taxation and trust advice.
