In the event of death, inheritance tax applies to a person’s estate when it exceeds the current nil rate limit.
There are various strategies for reducing or eliminating this tax. These include making gifts and placing investments and life assurance plans into trust.
This is a complex area and there is no off the shelf solution. How you should avoid paying inheritance tax will very much depend on your personal circumstances. Good advice and careful planning is imperative.
The Financial Conduct Authority does not regulate Tax, Trust or IHT Planning
Tax treatment is dependent on individual circumstances and may be subject to change in the future
When you take out a Life Assurance policy, you will usually have the option of placing it into a Trust. This is often overlooked by policy holders and unfortunately sometimes by advisers.
Barry has been providing me with excellent financial advice since 2003. He has simplified and consolidated a number of pensions that I had started with various organisations through different employers over the years to one pension – making it much easier for me to have a clear view of my investments and know where I stand. I receive regular, easy to understand updates, with Barry providing the added value of explaining what it all means and offering advice on actions to take. Barry ensures that he keeps current with my financial and personal circumstances and is able to adapt and make excellent, informed recommendations quickly and clearly. I would highly recommend Barry and Professional Wealthcare for your financial management solutions. He is now responsible not only for the planning of my financial security, but also for that of my children.