Our Services
Tax Advisory - Wealth Management
Inheritance Tax Planning
With the huge increase in property values this is an area which could give rise to unexpected liabilities for the unwary. We can provide expert planning advice on the mitigation of potential inheritance tax liabilities.
We aim to produce an effective plan which both meets your requirements and tax savings.
The matters which will be considered in planning effective inheritance tax savings are:
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The use of trusts where appropriate
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Examination of private limited company share structures to ascertain the advantages of any share reorganisation
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Planning in respect of the family home
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Ensuring the wills are tax efficient
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Consideration of lifetime gifts
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Ensuring that all pitfalls are avoided e.g. Gift with Reservation of benefits
Trusts and Estates
In helping you to plan for Inheritance tax minimisation it may be beneficial to consider your Estate and Trusts.
Trusts enable assets to be given away whilst still retaining some control over them. Income can be paid to different persons with the capital ultimately going to other persons.
The main types of trusts which are used for tax planning purposes are the following;
Interest in Possession Trusts; this type is one in which one or more of the beneficiaries has a right to receive the trust income or has the use and enjoyment of the trust fund.
Discretionary Trust. This type is one where the payment of any trust income is at the discretion of the trustees.
Accumulation and Maintenance Trust. This type is a suitable vehicle where the beneficiaries are under the age of 25.
We can review your existing trusts with a view to ascertaining their current tax efficiency.
We will review your circumstances and advise on the most efficient kind of trust to meet your requirements. We will examine draft trust deeds to ensure that they achieve your needs and will result in the most beneficial tax advantages for you.
If you wish to know more about our Trusts and Estates service or would like to arrange a free initial meeting in order to discuss how we can help you in more detail please contact us.
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