inheritance tax
Reduce inheritance tax with expert planning.
Ensure your assets are passed on efficiently and in accordance with your wishes, minimizing delays and potential disputes. Plan for today and tomorrow.
- Rated as excellent
- 4.98/5
Why choose us
Stress free Inheritance advice
You've worked hard for what you have. With careful tax planning can help you keep it. Minimise the stress & the risk to your home & assets.
Save Time
Life's too short. Inheritance tax planning isn't, let our expert financial advisers, free up your time by doing the hard work for you.
Save Money
Planning for IHT can help you minimize or even avoid this tax, ensuring that more of your wealth reaches your beneficiaries. They deserve it.
Get Expert advice
Your inheritance tax adviser offers no obligation consultations. You’ll discover your financial opportunities, with no pressure to proceed.
inheritance tax planning
What should you know
Inheritance Tax (IHT) can significantly impact the value of your estate that ultimately passes on to your loved ones. Planning for IHT can help you minimize or even avoid this tax, ensuring that more of your wealth reaches your beneficiaries.
Protect Your Loved Ones: By reducing IHT, you can ensure that a greater portion of your estate goes directly to your beneficiaries.
Leverage Tax Breaks: There are various tax-efficient strategies that can help you reduce your IHT liability.
Achieve Peace of Mind: Knowing that your estate is planned in a way that minimizes tax burdens can provide you with peace of mind.
Complex Estates: If you have a complex estate, such as owning multiple properties or businesses, IHT planning can be particularly beneficial.
While Inheritance tax planning can be valuable, it’s essential to consult with a qualified financial adviser or tax specialist to determine if it’s the right approach for your specific circumstances.
Here are some questions to consider when deciding whether IHT planning is suitable for you:
– What is the value of your estate?
– Do you have any complex assets, such as businesses or trusts?
– Are you concerned about the potential impact of IHT on your beneficiaries?
– Do you have any charitable giving goals?
What is it?
Inheritance tax planning is a strategy used to minimize the amount of inheritance tax that is payable when your assets are passed on to your beneficiaries after your death.
Inheritance tax
Inheritance tax is a tax levied by the government on the value of an estate that exceeds a certain threshold. Each individual is taxed at a rate of 40pc on all their assets above a threshold of £325,000. This threshold is known as the nil-rate band
Reduce tax
There are several ways to reduce inheritance tax:
- Lifetime gifts
- Business relief
- Charitable giving
- Trusts
Financial advice
It's important to note that inheritance tax laws can be complex and can change over time. It's advisable to consult with a financial adviser like GHL Direct or tax professional to discuss your specific situation and explore the inheritance tax planning options available.
what next?
What we do for you
Our financial advisers will guide you through inheritance tax to pass on your assets in the most tax efficient way.
-
Protect your loved ones By reducing IHT, you can ensure that a greater portion of your estate goes directly to your beneficiaries.
-
Achieve peace of mind: Knowing that your estate is planned in a way that minimizes tax burdens can provide you with peace of mind.
-
Leverage tax breaks: Use our our expertise in identifying tax-efficient strategies that can minimize your inheritance tax burden
how to get investment advice
Chat to a adviser
Pick a time
30 seconds is all it takes to schedule your call with an expert tax planning adviser.
We'll call you
A friendly chat to establish clear guidelines for the management and distribution of your assets
Compare plans
We can then coordinate the plans and deal with providers to ensure a smooth and efficient process.
Advice whenever you need it
You can get expert inheritance tax planning advice, from 8am - 8pm Monday to Friday.
However you want
You can chat via phone, video call or face to face
inheritance help
Tax planning questions
Inheritance Tax is a tax levied on the value of an estate when a person dies. It applies to assets located in the UK, regardless of the deceased's nationality or residence.
The nil-rate band is the amount of an estate that can be passed on to beneficiaries without incurring IHT. As of April 2023, the nil-rate band is £325,000 per person. Married couples or civil partners can benefit from a combined nil-rate band of up to £650,000.
There are several strategies to reduce your IHT liability, including:
Making lifetime gifts: Giving away assets during your lifetime can reduce the value of your estate subject to IHT.
Utilizing the residence nil-rate band: This additional allowance allows you to pass on your main residence to your children or grandchildren without incurring IHT.
Investing in qualifying assets: Certain assets, such as qualifying investments in businesses or agricultural land, may qualify for reliefs that reduce or eliminate IHT.
Leaving to charity: Gifts to charity can reduce your taxable estate.
Using trusts: Trusts can be used to manage your assets and potentially reduce your IHT liability.
It's generally advisable to start planning for IHT as early as possible. This gives you more time to implement strategies and potentially reduce your tax liability
While it's possible to do some basic IHT planning on your own, consulting with a financial adviser like GHL Direct or tax specialist can be highly beneficial. They can provide expert advice and help you develop a personalized strategy to minimize your tax liability.
While it's not always possible to completely avoid IHT, careful planning and the use of available strategies can significantly reduce your tax burden.
The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested.HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen..