Tax is a part of everyday life. We all come across it in some form. Whether it’s Income Tax, Corporation Tax, Inheritance Tax, Capital Gains Tax or Stamp Duty Land Tax, at some point it is likely you have taken advice from a professional to help you...
It is important that you take steps to manage your assets effectively, to ensure you or your family do not pay too much tax and that your assets benefit the right people.
The introduction of the complicated Inheritance Tax Residence Nil Rate Band has made taking professional advice at an early stage essential in relation to your will structure and inheritance tax planning generally.
Expert Estate Planning Advice
We provide expert guidance on estate planning, trusts as well as clear and coherent tax advice. We can help you plan in the most tax efficient way by advising you on the options available to preserve your wealth for future generations.
Minimising your IHT Liability
We can help you reduce your exposure to tax and minimise the amount of tax you pay in all aspects of your life. We achieve this in a variety of ways, through the use of Trusts, structuring investments, looking at tax after divorce and reducing taxes payable on death.
Read our 6 Step Guide to Estate Planning.
Read more about Lifetime Estate Planning
The most common ways in which we help clients with estate planning, trusts and tax advice are:
- Setting up a trust, during your lifetime or on death via your will, to save tax or to provide a protective ‘wrapper’ around the assets to shelter them from care fees liability or to control the ultimate destination of your assets.
- Advice on appropriate will structures in order to ensure the estate qualifies for the new Inheritance Tax Residence Nil Rate Band
- Advice on making gifts during your lifetime to minimise inheritance tax liability on your death.
- Creation of ‘pilot trusts’ to receive funds from pension and life cover policies, to save inheritance tax for the family.
- Advice on the use of trusts to maximise business property relief for inheritance tax on business assets.
- Tax advice on investing in property and capital gains tax planning advice prior to a gift, or sale of a property, which is not the owner’s only or main residence.
- Advising on the benefits of making a Deed of Variation to redirect inheritance to another beneficiary, or to a Trust.
- Creation of trusts for the disabled and trusts to receive damages following a personal injury.
- Tax compliance, with the submission of tax returns to HMRC