More ordinary people are being subjected to inheritance tax every year, as a result of wide scale home ownership and rising property values.
This tax is often avoidable, however people are losing tens and hundreds of thousands as a result of not being aware of the lawful actions you can take to do so. Research published in 2016 by unbiased.co.uk showed that £550 million was wasted in unnecessary IHT payments in 2015. If you would prefer for your hard-earned assets to pass to your family instead of the State, you must plan and act well in advance.
Inheritance tax (IHT) is currently charged at 40%, and is payable on your estate once your net assets exceed £325,000 (£475,000 if you qualify for main residence nil rate band*). (*As of April 2019)
There are numerous actions that can be taken to eliminate or at least reduce any potential IHT liability, including:
It is an important component in financial planning, to understand the value of your estate, and we would be happy to help you through the entire process.
You need to plan ahead to ensure that your assets are passed on to your loved ones as efficiently as possible.
Estate planning is not regulated by the Financial Conduct Authority.
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Zenith Financial Planning Ltd
8 Ragley Close
Tamworth
Staffordshire
B79 7SW
T: 01827 214800
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Zenith Financial Planning Ltd is an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited, which are authorised and regulated by the Financial Conduct Authority. Quilter Financial Services Limited and Quilter Mortgage Planning Limited are entered on the FCA register (http://www.fca.org.uk/register) under reference 440703 and 440718.
Zenith Financial Planning Ltd is registered in England and Wales, No. 09448188. Registered Office: Mitre House, School Road, Bulkington, Bedworth, CV12 9JB.
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
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