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Inheritance Tax Planning
Inheritance tax (IHT) is currently payable where a person’s taxable estate is greater than £350,000. Therefore, if you own your own house and have various investments and savings, life assurance policies or other assets (including privately owned shares), your estate could be liable to IHT.
A tax planning strategy may involve revising Wills, or the use of trusts, or the use of tax efficient investment products, where appropriate, to mitigate inheritance tax.
At Scannell & Associates we seek to help you plan to minimise future liabilities and can assist with:
- Drawing up and reviewing your Will
- Making full use of exemptions and lower tax rates on lifetime transfers
- Optimising lifetime transfers between spouses
- Transferring agricultural or business property
- Transferring assets into trust
- Arranging adequate life assurance to cover potential inheritance tax liabilities
For more information please contact us.
