Estate planning and inheritance tax should primarily be about taking steps to protect your estate for future generations. This video blog outlines the relationship between Estate Planning and Inheritance Tax planning and how you can protect and pass on your estate to your loved ones through various tax efficient strategies. [...]
Every year thousands of households in the UK will have to pay tax on their estate, so what’s the best way to avoid inheritance tax? If you’re administering an estate of someone who has died, how do you obtain probate? Is it possible to retrospectively minimise an estate’s tax liabilities? Inheritance Tax receipts reached [...]
Whether you have earned your wealth, inherited it or made shrewd investments, preserving wealth for your family and your future, will be a priority. Afterall, all of us want as little of it as possible to end up in the hands of HM Revenue & Customs. With careful planning and professional financial advice, it [...]
Dying without a Will means the distribution of a person's estate becomes subject to the statutory intestacy rules, which can lead to some unexpected and unfortunate consequences. If you want to be sure your wishes will be met after you die, then it’s vital to have a Will. A Will is the only way [...]
Trusts are not a one-size-fits-all solution, but they are incredibly useful for protecting and giving you control over your assets. Certain types of trusts, where appropriate, can be used for minimising or mitigating Inheritance Tax estate taxes, and they can offer other benefits as part of a holistic approach to managing wealth. A trust [...]
What is the Residence Nil Rate Band and how do you apply the additional RNRB threshold? The Inheritance Tax Residence Nil Rate Band (RNRB) came into effect on 6 April 2017. It provides an additional nil rate band where an individual dies on or after 6 April 2017, owning a residence which they [...]
What is a lasting power of attorney? Enabling someone you trust to make decisions for you, or act on your behalf Lasting powers of attorney (LPA) enable individuals to take control of decisions that affect them, even in the event that they can’t make those decisions for themselves. Without them, loved ones could [...]
If you can afford to do so, making inheritance tax gifts e.g gifting money before death or passing on assets to family members or loved ones, can be an excellent way of ultimately paying less to the tax man. Whilst we are all free to do this whenever we want, this blog aims to [...]
Whether you have earned your wealth, inherited it or made shrewd investments, you will want to ensure that as little of it as possible ends up in the hands of HM Revenue & Customs. With careful planning and professional financial advice, you can learn how to avoid inheritance tax in the UK by taking [...]
If you’re looking to make sure your children or grandchildren benefit from your generosity rather than the taxman, here are the things to be aware when it comes to tax efficient gifts for Christmas. In this article: Exempted Gifts Savings Accounts Junior ISA Child's Pension Premium Bonds Trust Funds Exempted [...]