Inheritance tax planning

Overview

Inheritance tax planning because you might be richer than you think

Inheritance Tax (IHT) used to be a tax that only relatively wealthy people had to worry about or pay. Not any more.

With the big increases in house prices over the last decade, amongst other factors, more and more people are in a position where they may have to pay IHT. What it boils down to is this: if the value of all your possessions - your house, investments, savings, pension, jewellery and/or your business (if you have one) - is in excess of £300,000*, then your family may have to pay tax at 40% on the excess when you die. That could be a lot of money.

If you believe there’s a risk of you falling into the IHT ‘trap’ then please get in touch with us. There are steps you can take to reduce your potential IHT tax bill and leave more of your estate with your family instead of the taxman.

But our advice is to take action sooner rather than later.

*For the 2007/08 tax year

Like to know more?

If you would like to talk to us about Inheritance tax planning you can either:
Arrange an appointment, call in to your nearest branch or call 0845 300 2511.