When you die you will want to make sure that your loved ones are left with the maximum amount possible.
Inheritance Tax is payable at 40% on your property and other assets worth more than £325,000. So your estate can end up paying a lot of tax reducing the amount your loved ones will receive.
But you can plan for this. There are many ways you can reduce the amount of tax you’ll pay and there are various reliefs and exemptions available.
Our team of experts can help you with advice on:
- Charitable donations and the reduced rate of tax which may be available;
- Making gifts;
- Minimising Inheritance Tax in Wills;
- Business succession planning; and
- Deeds of variation (where a benefit received under a Will, or some of it, can be redirected after your death to save you Inheritance Tax).
There are some time limits which may affect the availability of reducing Inheritance Tax and so it is important to take advice sooner rather than later.
Contact us now
If you need help, you can contact our Wills, Probate, Tax & Trusts team on 01332 340 211 or complete this form.