We have partnered together with Vyman Solicitors to bring you a webinar series designed to help you navigate the legal and financial aspects of planning your estate and having your affairs in order. In case you missed our webinar on preserving family wealth here’s a few key points we covered off during the session.
Most people are aware of the £3,000 annual exemption on gifts for IHT purpose, however there are other allowances that can be utilised including the little known or used, regular gifts out of income
It is often a common perception that to avoid estate duty you can put the assets into a trust, however there are many tax potential problems of doing this, and some painful tax consequences if you fail to plan correctly.
This is a nifty piece of post death planning, that can be used to pass over wealth to the next generation
There are numerous that can form part of a comprehensive tax plan, the tax benefits not only cover IHT but can help reduce CGT and Income tax.
Use the fantastic planning opportunities that a pension offers to you and your estate to reduce IHT and use other investments to generate your retirement income.
This 2 year rule is a huge time saving of 5 years for you to move inheritance taxable invested money or cash outside of your estate.
This plan can be used to produce you a tax free income stream, and at the same time reduce the value of your estate that is taxable on day one of money moving into it.