IHT Review and Planning

It is no secret that Inheritance Tax is one of the most expensive taxes levied, but one of the easiest to mitigate.  It was described by the former Home Secretary, Lord Jenkins of Hillhead, as a “voluntary tax paid by those who distrust their heirs more than they dislike the Inland Revenue”.

The inheritance tax nil rate band of £325,000 has not increased for over 10 years. The increase in property prices however, particularly in London and the South East, means that many more families need to be be seriously concerned about IHT and how it will effect the estate being passed on.

Whilst your home is likely to be the single biggest asset in your estate, it will also include other property which will impact on the overall value :-

  • Cars
  • Shares/Investments
  • Jewellery
  • Cash
  • Crypto assets
  • Art
  • Any other land and property including those located abroad

Whether using the various exemptions that are available or by starting to pass your assets on to the next generation earlier than planned, the key to managing your exposure is to not wait until the end of life to address issues of inheritance.

Our Inheritance Tax review service will establish the full extent of your estate. Once we have a comprehensive understanding of your upcoming life events we can work to ensure your tax exposure is minimised.  If changes to your will are required, or you require a will to be written, our professional Will drafters are able to draft a legally compliant, binding document on your behalf.

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