IHT Planning
Inheritance Tax (IHT) planning can be an important step in making sure that friends and loved ones get the most out of your assets when you pass away. IHT planning may help you in reducing or avoiding inheritance tax altogether.
What is IHT?
IHT is a tax that is payable on any qualifying assets valued at over £325,000 at the the time of your death. The current rate of taxation on anything above the IHT threshold is 40%, and this can have a significant impact on any assets that you leave behind.
Why plan for IHT?
IHT planning can mean that by reducing your assets in your final years, less will lost through taxation in the long run. There are a number of ways in which you can reduce your assets in your final year, such as by making inheritance tax free gifts.
IHT planning can be complex if you are looking to get the most out of you assets. You may wish to seek professional advice on your options when a it comes to IHT planning. Speak to an independent inheritance tax planning advice team for impartial advice and a free initial consultation.
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