Inheritance Tax
Inheritance Tax is the tax on the estate of a deceased person when the estate exceeds a certain limit set by the government.
This tax is now affecting more and more people each year and many of these people are not aware that on their death their family could have a large tax bill to pay.
The main reason why more people have an Inheritance Tax liability is due to the boom in property prices over recent years.
On death, everyone has an allowance before Inheritance Tax is payable and advice should be sought to maximise the use of this benefit.
The changes to the rules for Inheritance Tax in the 2008 budget will have helped many people, but we would suggest that you should seek advice in this area of planning to be sure you are using all the available allowances.
Tax Planning
We provide advice to our clients on the best way to use tax efficient savings products currently available to minimise the amount of tax payable whilst complying with current tax legislation. This incorporates both regular savings as well as lump sum investments.
For further tax advice, please contact us.