If you’ve managed to save a nest-egg over the years the last thing you want is for the tax man to take a share of your legacy when you die.
Yet for single people with more than £325,000 in assets or couples with over £650,000, inheritance tax is payable on the excess at 40%.
However, there are ways to minimise an inheritance tax problem through careful planning. For example:
Using annual allowances to gift money
Gifting larger assets
Putting assets in trust
AIM listed investments
Trust planning can offer a highly flexible way to minimise inheritance tax – whether you can gift a large sum outright or you still needs access to income or some capital.
Contact us today to find out how you could reduce your inheritance tax bill.