“Why give HMRC any more than they deserve?"
Inheritance tax (IHT) is a tax on your estate when you die and is also sometimes payable on trusts or gifts made during your lifetime. This includes the total of everything you own and a share of anything you own jointly. Things that might count towards your estate include:
•Investments and savings.
•Certain gifts or assets held
At Sterling & Law, there are a number of things we can do to help you to reduce your family’s tax bill.
- Write a will – an effective one could help to reduce your inheritance tax bill.
- Understand your exemptions – there are a number of these you can use to reduce the value of your estate. For example, moving assets between spouses or civil partners.
- Consider gifts – if you can afford to give away some of the assets you own, it may be possible to reduce the size of your estate.
- Use life assurance – a life assurance plan will not actually lessen the inheritance tax bill but the proceeds could be used to help pay the bill on death.
- Create trusts – if structured carefully, trusts can help to reduce or even eliminate your inheritance tax liability.
Sterling & Law has been looking after the financial requirements of our clients for the last five years. The service provided has been nothing short of exceptional.”
David Price Solicitors and Advocates, Fleet Street, London, UK
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