A recent report by the Pru suggests that Inheritance Tax (IHT) may soon be a thing of the past, with research indicating that fewer than three in 10 people will leave any inheritance at all and, those that do, may be far below the current IHT threshold of ￡325,000 for a single person and twice that for a married couple.
Despite this, there are still many individuals and families with estates estimated to be above the threshold for paying IHT. At Beavis Morgan, we can assist with both medium and longer-term financial planning to ensure that you, your family, and ultimately future generations of your family, will benefit from your wealth, in accordance with your wishes.
We also offer specific expertise on many aspects of landed estates and their associated rural businesses such as capital taxes planning, including mitigating exposure to inheritance tax and capital gains tax on chattels and land.
Please contact Alan Ford or your usual Beavis Morgan Partner to find out more about how we can assist you to protect your wealth and plan for IHT.