Inheritance Tax
Inheritance Tax
Inheritance Tax can often be avoided or at least mitigated. It is however a highly specialised subject and you should ALWAYS seek advice from an Independent Financial Adviser who specialises in Inheritance tax Planning.
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Inheritance Tax
Inheritance Tax has long been assumed to be a rich man’s problem. This is no longer the case.
Over the years, Inheritance Tax thresholds have, in real terms, stealthily fallen. During the past five years alone, house price inflation has hit 60%, while the Nil Rate Band (the threshold above which Inheritance Tax applies) has only increased by 16%.
Who does it affect?
The impact of this is that Inheritance Tax now applies to anybody with a net worth greater than £275,000. This is, potentially, bad news for the 1.6 million UK homeowners who now fall within the clutches of Inheritance Tax.
Most of these individuals do NOT resemble the super-rich that were the original targets of capital taxation (Inheritance Tax) when it was first introduced early in the 20th century.
Fortunately this situation is far from hopeless.
Can it be avoided? - Inheritance Tax Planning
