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Derbyshire Tax Services Ltd

Tax consultants & accountants for Derby, Derbyshire & the East Midlands
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Inheritance Tax
 
Why do I need planning? 

In recent years growing property prices coupled with the popularity of investing in buy to let properties and / or acquiring a holiday home, perhaps overseas, have brought more and more people within the potential scope of Inheritance Tax (IHT).

In many cases people may not even be aware that their Estate will be liable to IHT after their demise. This could dramatically reduce the amount of wealth they thought would be available to pass to their intended beneficiaries.

No matter whether you are in business and / or have investments such as shares or rental properties, whether you are or are not nearing retirement or simply own your private residence, “now” has never been a better time to review your overall position. Most of the time, the simplest solutions prove to be the most effective.
 
How can my potential IHT be managed?

With timely planning the potential liability can be greatly reduced or completely mitigated. Common solutions may include some of the following;

• Lifetime gifts
• Spend or gift suprlus income
• Ensuring your will is structured in a tax efficient way
• Use trusts to protect capital
• Invest in IHT efficient investments
• Take out insurance to cover the eventual IHT liability

 
What to do next?

Please contact us to arrange a free initial meeting with you to discuss your position.

Firstly, we can identify exactly what liability may arise on your Estate;
Secondly, for you to take stock of both your short and long-term plans; and,
Thirdly, to put into place such measures that will help minimise the eventual IHT and maximise the wealth to be passed to your beneficiaries.