Inheritance Tax and Planning
Lawyers online can refer you to specialist Inheritance and Tax Planning solicitors who can advise on all aspects of Tax. It is essential that you seek proper advice to help reduce the level of Inheritance Tax that will be payable on death.
The current nil rate tax band for individuals is set at £325,000. This is the amount of assets you can leave before you have to pay any inheritance tax.
Married couples or those in a Civil Partnership can leave assets worth £650,000 free of tax. The rate of tax thereafter is 40%.
If you think that your estate may be over the nil rate band then it is essential that you consider a will to protect your assets.
Lawyers online can refer you to specialist solicitors will help you draft your will and advise you on estate planning and Inheritance Tax.
You may want to consider setting up a Trust to protect your assets. Often this can be a tax efficient way of protecting your assets in the event of your death.
Specialist solicitors can advise you on all aspects of Inheritance Tax Planning.