We all have a tax free allowance we can leave to whoever we choose when we die.
However, if your assets add up to more than this tax free allowance then inheritance tax will be payable on the excess at a huge 40%.
It’s easy to see how you can have more wealth than you think if you add up the value of your house, your bank accounts, investments and not only that but also any life assurance policies.
We can help you to assess your liability to pay inheritance tax on your death, and advise on strategies to reduce or even eliminate your exposure to inheritance tax. It’s important to appreciate that to evade paying tax is illegal, but to avoid paying tax using perfectly legal tried and trusted strategies can mean your beneficiaries, such as your spouse or partner, and perhaps more importantly your children, will inherit more of your estate instead of the Government.