We believe that effective Inheritance Tax (IHT) planning is of paramount importance when preparing a financial plan, IHT is a very penal tax, the rate charged on death is currently 40% over the nil rate band
It is therefore crucial that appropriate arrangements are made to ensure that the nil-rate band is not wasted on the first death. Our experience shows that effective IHT planning can save tens of thousands of pounds without losing control or access to your assets.
Whilst gifts can be made to reduce the overall value of the estate this is often not possible or appropriate. In our experience whilst income in retirement may be sufficient to meet lifestyle expenditure future control and access to capital is usually required to maintain quality of life.
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