(Norfolk, Suffolk, Essex and Cambridgshire)
Inheritance
Tax - lifetime strategies
Lovewell
Blake's inheritance tax planning with wills
Inheritance
tax and the use of trusts
Inheritance
tax and investments
IHT rates
IHT is
payable on estates of all UK domiciled individuals with a value
in excess
of the nil rate band (2003/2004 £255,000). This includes the value
of your family
home. Above the nil rate band inheritance tax is payable at 40%. Inheritance
tax is payable on certain lifetime transfers at 20%.
Inheritance
tax lifetime strategies
We have developed strategies to save inheritance tax on the following:
The
family home - removing the value of your home from your estate.
Investment
properties - giving away properties without capital gains tax.
Businesses
- maximising relief on business and agricultural property.
Inheritance
tax planning with Wills
We can advise on how to use your Will to save inheritance tax:
Using
a nil rate band discretionary trust.
Creating
a debt or charge to use the nil rate band.
Double discretionary trust.
Doubling up business and agricultural property reliefs.
Inheritance tax and the use of trusts
A
trust is a useful way to remove an asset from your estate for inheritance
tax
and to retain control of it. We can advise on saving inheritance
tax and
protecting your family’s wealth through trusts.
Inheritance
tax and investments
Through
our associate company, Lovewell Blake Financial Planning Limited,
we are able to advise on the use of investment products to reduce inheritance
tax or fund the payment of inheritance tax.
To
find contact details of our experts or send an email with your
name, address and telephone number to taxconsultancy@lovewell-blake.co.uk
