Inheritance Tax Planning (IHT)

A number of years ago inheritance tax was called “a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue”. That was former Chancellor Roy Jenkins, and his point was that there are many ways to mitigate inheritance tax, or IHT, if you do your homework.

There are a number of different ingredients that make up the value of your estate. The bill that your beneficiaries have to pay can be complex, therefore some in depth calculations are required to work out your potential liability in order to best mitigate any potential tax bill upon your death.

Inheritance Tax Planning

How can estate planning benefit you?

Inheritance Tax is payable on everything that you own of value when you die.  From your home, jewellery, savings and investments, to works of art, cars and property, inheritance tax can be considerable.  To ensure that your estate is passed as you intend it to be, it’s imperative that you have all of the correct policies in place.

Speak to us at Hartey Wealth Management about your needs and wishes both now, in life, and in death.

We can help by:

  • Providing appropriate investment strategies, perhaps geared towards capital preservation rather than capital growth, to generate or increase income in a tax efficient way.
  • Implementing Inheritance Tax mitigation strategies whilst retaining sufficient assets to ensure a client’s own financial security. This could be achieved by utilising a wide range of trust and investment based approaches which are designed to meet both aims.
  • Arranging a client’s affairs so that their estate passes to their chosen beneficiaries in a tax and cost efficient way, without compromising financial security during their lifetime.

Interested in a second opinion on your investment portfolio?

If you have any questions about your investments, pensions or plans, contact us today. To learn more about The Second Opinion Service, visit the service’s dedicated website.