Right for you if
You wish to protect your wealth in the event of death to ensure loved ones receive as much of your estate through careful planning.
impartial advice
Inheritance tax (IHT) is the tax on an estate when someone passes away.
IHT is charged at 40% above the tax-free threshold (Currently £325,000). This means that more families are being drawn into paying IHT than ever before.
Latest figures from HMRC state that IHT receipts in the 23/24 tax year reached £7.6 billion, the figure for 24/25 will far exceed this. This will continue to rise as the thresholds are frozen combined with rising asset and property values.
The proposals outlined in the October 24 Budget add further complexity with business assets being taxed from 2026, pensions onwards from 2027 and agricultural farms all falling under the scope of assets to be taxed on death.
Whilst we have yet to see the full detail on the proposals outlined by Labour it is clear that more families will require IHT planning services to be considered to protect family wealth for loved ones.
How can we help?
We can help provide a comprehensive plan to ensure that you have enough money to enjoy and look after yourself today whilst considering what the tax implications are for your family on death.
We view IHT planning with our clients as a journey that will evolve over time as wealth adjusts and rules change.
Our role is to help clients enjoy their money to have a positive relationship and not let IHT be a constant worry as there are many things that we can help advise, including:
• Gifting (Outright gifts)
• Gifting out of income
• Taking out life insurance to cover the liability
• Advice with Trusts
• Tax-efficient investments that qualify from Business Relief
As independent advisers we have all available options and solutions at our disposal to ensure that the best solutions are tailored to our clients.
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