Lifetime Inheritance Tax Planning
in_banner2 10/03/16

Lifetime Inheritance Tax Planning

Benjamin Franklin once said, the only things that are certain in life are death and taxes. When you die, the Government assesses how much your estate is worth based on the value of your assets and levies Inheritance Tax (IHT) at 40% on the total value. Your assets include:-

  • Cash in the bank
  • Investments
  • Any property or business you own
  • Vehicles
  • Pay-outs from life insurance policies

There are so many advantages of tackling the difficult subject of you and your loved ones death and Inheritance Tax. Significant IHT savings can be made by use of the available reliefs and exemptions by exploring 3 key elements:

  • Annual Exemption – transfers and gits up to £3,000 each year
  • Nil Rate Band £325.000
  • Seven year accumulation

Contact Gibson Accounting today to plan to retain the maximum value of your estate for your loved ones

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