Inheritance Tax (IHT) has become an increasingly complicated area and changes in the legislation can catch the unwary. Planning to minimise your liability to IHT should be fully considered and will involve making decisions about your finances and family, which we can help guide you through.
After death, IHT, at the full rate of 40% is charged on personal wealth, together with all or a proportion of our lifetime gifts made in the preceding seven years. Gifts made seven years prior to death will be entirely exempt from IHT.
It is important to start planning for IHT at your earliest opportunity as it is currently payable where a person’s wealth is in excess of £325,000 for the years 2011/12-2014/15. If you own your own home and have some savings, life insurance or business assets, your estate could be liable. Many people underestimate their wealth so it is important that the position is reviewed and steps taken to reduce any exposure to IHT.
Our teams are on hand to work with you in order to find the best strategy to mitigate your IHT liability whilst always being mindful of your family circumstances.
Contact us today to discuss how we can help you.
|Bolton||-||Ian Smethurst||:||firstname.lastname@example.org||/||01204 551100|
|Lancaster||-||Doug Chadwick||:||email@example.com||/||01524 541200|
|Manchester||-||Colin Abrahams||:||firstname.lastname@example.org||/||0161 245 1000|
|Rob Wardle||:||email@example.com||/||0161 245 1000|
|Alex White||:||firstname.lastname@example.org||/||0161 245 1000|