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Inheritance Tax Planning - "Inheritance Tax is a voluntary tax, paid by those who distrust their heirs more than they dislike the Inland Revenue!" - Lord Jenkins

Inheritance Tax Planning

Inheritance Tax Planning

Inheritance Tax is paid if a person’s estate (their property, money and possessions) are worth more than the current inheritance tax threshold when they die. There have been different tax thresholds and tax rates payable over the thresholds applicable to past years. The current rate of Inheritance Tax is 40% on anything above the threshold. The rate may be reduced to 36% if 10% or more of the estate is left to charity. Further information is available on the government’s website at https://www.gov.uk/inheritance-tax/overview‘s website.

Inheritance Tax Planning with Talking Finances

Although Inheritance Tax Planning can seem complicated, Talking Finances believe in where possible keeping it simple and doing the basics well.  In its simplest format, most people can plan for inheritance tax liabilities by either 1. Gifting Money  2. Spending It or 3.  Investing It in “Qualifying Assets” and in most cases a combination of some or all of these.

In addition to these core Inheritance Tax reduction strategies we also make sure our clients have completed the necessary legal paperwork for a tidy estate, which often in itself saves both tax and potential stress for our loved ones.

At Talking Finances we offer the following services as a package to assist our clients in planning for their loved ones, whist taking full advantage of the tax allowances available for inheritance tax. We offer a full portfolio of services that include the following;




Powers of Attorney

If you would like further information or would like an informal chat, please contact us either via email or by phone. Our contact details can be found on our Contact Us page