Stay up to date with the latest events from Edge Tax
Don’t let inheritance tax reduce the legacy you leave behind. Schedule a free, no-obligation consultation today to learn how you can minimize your tax liability and protect your family’s future
Inheritance tax can take a large portion of your estate, leaving less for your loved ones. Our expert advisors specialise in inheritance tax strategies that help you. This is why are inviting you to book a inheritance tax consultation:
Estate planning can be useful to anyone. You can use our estate planning services to:Minimise inheritance tax on your estatePrepare for future costs, such as care home feesPlan for what would happen if you lost mental capacitySet up dedicated trusts for things like school or university feesMake sure your loved ones are provided for after your deathPut in place succession plans if you are a business owner.Whether you’re worried about protecting your wealth, preparing for the future, or just making sure you leave your affairs in good order for your loved ones, we can help.
Yes – we can advise on how to structure your Will to make sure any tax will be as low as possible. There are different ways you can reduce your inheritance tax bill, including:Leaving money to charitySetting up trustsGiving away parts of your estate while you are still alive.
Preparing for inheritance tax is essential so that the value of your estate is not drastically reduced for your loved ones. With effective estate planning you can make sure your wealth is protected for the next generation – our lawyers and tax advisers can advise on the best way to do this. Lifetime inheritance tax exemptions are also a valuable planning tool to consider, if you have spare income or capital that you can give away before your death. Our financial planners may be able to help you rearrange your assets so that you can make a gift of something in your lifetime and save your estate being taxed.
Trusts are a valuable part of estate planning. They allow you to make gifts of assets or property in a controlled way that:Protects it from unnecessary taxEnsures the beneficiaries (who receive capital or income from it) use the funds appropriatelyMeans various people can benefit from it at different times (this may be helpful, for example, if you have young children from a current relationship and older ones from a previous marriage).You can make a trust in your lifetime or write one in your Will to take effect upon your death. Lifetime trusts can help save inheritance tax, if you make a gift at least seven years before your death. To ensure you still have control of what happens to the gift while you’re alive, you can appoint yourself as a trustee. If you don’t want the responsibility yourself, Edge Tax Professional Trustees is also frequently appointed as a trustee for lifetime trusts, as well as will trusts.
Inheritance tax (IHT) will normally fall due when the value of your estate exceeds the nil-rate band threshold of £325,000 but this could be effected if you have made gifts in the past. If your home is distributed to your children or grandchildren you may also be eligible for an additional ‘residence’ nil rate band. This could be up to £175,000 if your estate is worth less than £2 million.Passing assets to your spouse or to charity on death is normally exempt from IHT. Otherwise, the standard rate of inheritance tax is charged at 40%. A reduced rate of 36% may apply if 10% or more of your net estate is left to charity.
There are several ways to reduce your liability, including gifting assets, setting up trusts, or restructuring your estate. Our consultation will provide you with personalised strategies based on your circumstances.
Prior to the consultation we will send you an information request to ensure we have all the correct information prior to the meeting allowing our advisors to be fully up to speed with your unique circumstance.
We would advise to leave an hour clear in your calendar for our inheritance tax consultation, most last about 30 minutes however depending on the complexity there is always a chance they will run over
Give us a call03332 074404
Send us an emailinfo@edge-tax.com
AddressB2 Vantage Office Park,Old Gloucester Road,Hambrook,Bristol,BS16 1GW
