Inheritance Tax Plan
Inheritance tax is more about what you own at the time of death and less about what you owe. It’s also payable on assets you may have given away during your lifetime.
Inheritance tax is a tax paid on a deceased person’s estate (their property, money and possessions).
Normally, there’s no Inheritance Tax to pay if either:
The standard Inheritance Tax rate is 40%. Only the part of your estate that’s above the threshold is charged.
Inheritance Tax is typically applied to wealth inherited through generations, degrading its value for you and your loved ones over time.
Inheritance Tax planning involves setting up proactive measures to ensure your estate is passed on to your beneficiaries in the most tax-efficient manner.
Inheritance Tax is primarily a voluntary tax that you can legitimately mitigate. Therefore, you do not need to worry about losing 40% of your wealth when you die.
All of this is possible with the proper professional counsel and estate planning.
Inheritance Tax preparation is a challenging subject to broach, especially if you have a lot of assets. Therefore, it helps to understand the law behind it and seek the best guidance possible.
If the estate, including any asserts held in trust and gifts made within seven years of death, is less than the threshold, no inheritance tax is due on it.
At CTT Private Client we can help you to understand the inheritance tax plan and what it means for you. Get in touch with our team to learn more about our inheritance tax planning services.
Hard work and dedication have meant that you have been able to build up a sound business to benefit you and your family and naturally you want to ensure that your loved ones are provided for in the event of your death.
In the climate of increased taxation, ideally you need a personalised retirement plan that focuses on your wealth protection and growth.
Trusts have been instrumental in mitigation tax since medieval times, since then, there have been many changes to trusts and their uses and equally to their inland revenue rules which affect them.
For business owners and individuals with a broad range of interests, accessing the right financial expertise is vital.
We provide a truly independent advisory service to our clients; our IFA’s are highly qualified experienced individuals with a broad range of investment solutions for all our clients objectives.