There are only two certainties in life, death and taxes. Death is a relatively convenient way for the Government to raise tax. Not only is the tax easy to collect but it is less likely to be contested when issues arise. ”Inheritance tax" is a tax you have to pay when you die; on all the assets you leave for your loved ones, like your home, investments, stocks, shares and possessions, known as your estate.
The Inland Revenue will receive 40% of your estate over the Nil Rate Band, currently £325,000 unless you plan in advance. We can legally help you and your family to significantly reduce your Inheritance Tax liability.
The Government has recently made some changes to Inheritance Tax thresholds, so it is therefore important to seek individual advice on the implications of these changes.
Charis Life Planning is able to provide clear advice on this complex issue considering each person's personal and financial circumstances, with a view to minimising and potentially eliminating inheritance tax liability.