Let us help you remove the IHT tax burden from your family
With good and early Inheritance Tax planning it is possible to mitigate Inheritance Tax, remove the burden placed on your famaily & prevent Generational Inheritance Tax from affecting your loved ones
Let us help you remove the inheritance tax burden from your family.
With good and early Inheritance Tax planning, it is possible to mitigate Inheritance Tax, remove the burden placed on your family & prevent Generational IHT from affecting your loved ones.
Inheritance Tax (IHT) can be a devastating burden for those you leave behind. IHT is not a ‘one off’ tax either as Generational Inheritance Tax may affect many families. HMRC will expect that any tax due is paid before they will allow the Grant of Probate. So the tax has to be paid before your beneficiaries receive their inheritance. If liquid funds are not available and the Inheritance Tax Liability is not paid within 6 months of the deceased’s death, interest will be charged. HMRC will often allow the tax liability to be paid in instalments over a period of time but that agreement has to be maintained regardless of whether funds have been released from assets that need to be sold.
Don’t put off addressing IHT as it can be a devastating financial burden to your family.
There are 3 common approaches to minimising Inheritance Tax;
– Giving money away
– Using lifetime gifts to avoid paying IHT altogether
– Insurance policies that pay for your inheritance tax bills after you’re gone
However, there are other ways to reduce Inheritance Tax. The Profit Key are specialists in minimising the amount of inheritance tax to be paid and have the experience, knowledge and understanding to find the right solution for your needs.
Legacy Planning like financial planning is very important and it isn’t as simple as just having a will preparation service. Will preparation is not the total answer to ensuring your legacy planning delivers what you want it to for you and your family.
Call The Profit Key and find out how effective IHT planning and an effective Legacy Plan can help you and your loved ones.