Next Generation Tax Planning:
Individuals will never pay their own Inheritance tax bill but if you feel that you don`t want your hard earned money to be paid over to the government unnecessarily after your death please ask for our advice.
The Government now gives each of us an Inheritance Tax allowance. In addition a widower or widow can also use his or her spouse`s allowance, if that allowance was not used up when he or she died. Very often this double allowance will cover the assets of the couple and Inheritance Tax is not then an issue, however if assets are over the upper limit then tax is charged at 40%.
This can often be avoided through simple planning measures reducing the taxable value of the survivor`s estate. We are able to advise on a number of ways in which a family can sometimes save tens of thousands of pounds. Please contact us for more information on tax planning if you have any concerns over this tax, keep your wealth in the family.
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