Tax Saving Will
The increase in property prices over the last 10 years has meant that more people than ever are subject to inheritance tax (IHT). IHT is payable on the total value of your property and possessions over £325,000 at the rate of 40%.
Recent changes mean that married couples and those in civil partnerships now receive a combined tax free allowance of £650,000.
If your estate is worth more than £325,000 or if you are married or in a civil partnership and your joint estate is worth over £650,000 then our specialists can help you to reduce your tax liability and keep your money out of the hands of the taxman.
As well as putting a Tax Saving Will in place we will also review with you the other options available to reduce your IHT tax burden by making transfers and gifts during your lifetime, or varying or disclaiming bequests which you are entitled to,
Despite the recent changes to IHT allowances trusts can still have an important part to play in estate planning, especially in the case of business or agricultural assets or where you wish to ensure that money is passed onto children or grandchildren from a former marriage.
To find out how we can help you to reduce your Inheritance Tax liability call us now on 01902 577709.
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