A common Inheritance Tax myth is that only very wealthy individuals will ever pay this. Unfortunately, owing to high property prices many more people are finding that their loved ones will be handing over money to the tax man when they die in the form of Inheritance Tax.
But the good news is you can do something about this. The old adage that the only things you can be sure of is death and taxes is still correct, but you can reduce the amount of inheritance tax your estate is liable to pay if you do some effective Estate Planning and get some local financial advice. In some instances it may even be possible to completely eliminate the prospect of an IHT tax bill.
There are a number of options your Adviser will discuss with you and more details are on our Estate Planning page, but the main thing is to do some positive planning and make sure that more of your wealth goes to your loved ones and the good causes you support rather than HMRC.
Talk to your Adviser about Estate Planning.
Estate Planning is not regulated by the FCA.
Tax treatment depends on individual circumstances. Tax treatment, rates and allowance are subject to change.