Without the right advice and careful financial planning, HM Revenue & Customs can become the single largest beneficiary of your estate following your death.
Planning ahead for when you die allows you to set out clearly who should get what from your estate. Also, you can maximise Inheritance Tax reliefs and exemptions if your estate might be worth more than the Inheritance Tax threshold (currently £325,000).
As anything in excess of this is taxed at 40% on death, it is important to know what options are available to you to help mitigate this charge. Options include gifting to individuals and charities, some tax relief on business assets, using trusts and other tax efficient investments effectively… we can talk through these options with you, in order to help you decide what you can afford and the relevant impacts these can make on your personal situation.
It is also imperative you have an up-to-date Will that has been planned correctly to save the maximum amount of tax. We can put you in touch with one of our preferred partners who can assist you in this; working alongside us to provide a cohesive approach to managing your affairs. We do not receive any compensation for such introductions.
Financial Planning Partners (FPP)
19 Wellington Business Park
Tel: 01344 778990
FPP are committed to dealing with clients and prospective clients in a professional and ethical manner and to that end adhere to the principals laid out in the CII Code of Ethics, a copy of which is available on request.