IHT Planning

Inheritance Tax UK provides professional, precise advice for our clients and their future. We aim to help individuals like yourself, plan and make the most out of your assets and liabilities. IHT UK specialise in Inheritance Tax Planning

What is Inheritance Tax?

Inheritance Tax, or IHT, is tax due on the event of your death.

 
The amount of tax payable is based on your non-exempt assets and is a rate of 40% after the deduction of a nil rate band.

Inheritance Tax planning, or IHT planning, is the process of legally sheltering assets from your taxable estate on death.

“That’s easy,” I hear you say, “I’ll just gift away the assets I don’t need!”

And that is exactly where the problem starts; what assets will you need, how long will you need them for, what happens if you need care, what happens if you run out of money?

Providing professional, precise advice for our clients and their future.

We specialise in assisting clients to mitigate inheritance tax legally and without touching the grey areas of tax avoidance and evasion. We have been offering this service for many years and we are more than experienced to help you in your decision-making process.

Inheritance Tax itself sounds daunting, however, we are here to ease the process for you.

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The line we hear most from our clients is that they ‘do not want to be left wanting.’ Generally, people are keen to shelter their children from IHT because they want them to have as much legacy as possible, but they do not want to put themselves in a situation where they are suddenly reliant and beholden to others, even family – they do not want to be left wanting.

Thankfully, we have years of experience with these issues and can utilise a variety of methods and tools to create scenarios that do not result in you losing control of your assets and do not have to result in you losing access to your money. Whether you have a majority wealth in property or investments or cash, there are IHT savings to be made.

IHT planning is a very productive exercise. Productivity, in terms of tax saved, is usually hundreds of thousands and occasionally millions of pounds.

If you have an IHT liability and want to do something about it you have a couple of options; read about the solutions online and implement a DIY approach or engage a professional.

This site is not the panacea of answers, it is an overview of some of the solutions available and a request for you to get in contact.

Before being able to help you create a plan we need to get to know, so please give us a call to spend 10-15 speaking to an IHT consultant. We are happy to give you some time to let you know what type of solutions could work and let you know what savings we could reasonably create.

 
IHT Facts that you may not be aware of:-
 

  • IHT needs to be paid before you can obtain probate and release the estate.
  • Bridging loans are usual easy to come by, but can be expensive.
  • With most cash accounts formerly held by the deceased, you can request that the money is paid directly to HMRC to partly or fully settle the IHT.
  • With property, you only need to pay 10% of the IHT due each year until the liability is settled.