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Inheritance Tax Planning

Financial Advisor


Protecting What's Yours

It may come as a shock to discover that a large proportion of your wealth, which includes your assets such as your family home, investments, life assurance plans not in trust and even old family heirlooms might actually have to be sold in order to meet the tax liability on death.


Your Main Residence

With the family home often making up a large percentage of an estate, the government has introduced an additional nil-rate band, known as the ‘main residence nil-rate band’.

An estate will be subject to Inheritance Tax (IHT) if, on death, it exceeds the individual nil-rate band which currently stands at £325,000.


Calculating Your Liability

Calculating your liability is often simple, although not always.

Count up the value of all the assets remaining on death, subtract the nil-rate band remaining and what is left is taxed at 40%.

If your spouse dies before you without fully using their nil-rate band, the proportion of the unused amount can be carried forward to use on your death

Careful Inheritance Tax (IHT) planning is all about passing as much of the proceeds of an estate as possible to chosen beneficiaries rather than to HMRC. It is also about maintaining flexibility and control over any arrangements that are made.


Our Specialist Team

Talk to the expert team at Inspire Financial today for more information about Inheritance Tax Planning.Get in touch with our specialist team today on 02477 790736 or fill in the contact form.


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