Nobody wants to pay more tax than they have to and, equally, you would rather your loved ones did not have to do the same after your death.
Inheritance tax has often been described as the “voluntary” tax. Those who give enough away during their lifetimes and survive long enough to avoid any tax claw back, can, in theory, avoid inheritance tax altogether.
However, the inheritance tax threshold has, in recent years, failed to keep up with house price inflation. Consequently, every year more and more people become subject to inheritance tax.
There are many exemptions and reliefs but taking advantage of them can, in practice, be far from straightforward. However, taking expert advice when planning for such an eventuality can ensure that the majority of your estate goes to your family rather than the taxman.
At Milsted Langdon Financial Services Limited, we are experts in helping people plan ahead to minimise their inheritance tax liability.
We are able to offer a range of inheritance tax solutions which, either individually or in combination, can meet our clients’ objectives and circumstances.