Inheritance Tax
Ackland Webb Accountancts
We understand that dealing with inheritance tax (IHT) can feel like a heavy burden. Whether you’re advance planning or handling compliance for an estate, we can take the weight off your shoulders.
Protecting your hard-earned money for your loved ones
It’s comforting to know that, when you’re no longer around, your loved ones will be taken care of. That the assets you have worked all your life to build up, and that you want to pass on to your nearest and dearest, will be kept in the family.
IHT is now one of the highest rates of tax in the UK. The charge is 40% on the value of the estate above the nil-rate band with an additional exemption for the family home. Although IHT is only paid if your estate’s value is above the nil-rate band, it does mean that without proper IHT planning, your family could be left to deal with the fallout from any IHT complications or unexpected (and expensive) liabilities.
We’ll work with you to find ways to lower the IHT liabilities your beneficiaries face. We’ll review your estate and, if necessary, help you to update your will to make it tax-efficient.
There’s no doubt that families who take the time to plan for IHT liabilities and discuss the contents of a will before their loved one dies can save significant amounts in IHT. When you know what you face, you can take simple (and legal) steps to minimise the estate’s liability.
If you require more complex planning arrangements regarding complicated will arrangements or trusts, we’re happy to work with lawyers and independent financial advisers to recommend the most suitable course of action for your requirements.
If you would like to discuss how we might assist you, please contact us for a no-obligation initial meeting.
"Everyone should have a will. A basic will is inexpensive and will save your surviving loved ones a great deal of stress, as well as potentially being tax efficient."
