Cruse+Burke

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Inheritance tax planning

As Benjamin Franklin once said, the two certainties in life are death and taxes.

The taxman has not finished with you even after you have been paying income tax, capital gains tax, VAT, stamp duty and more. He wants to take another 40% of your wealth in Inheritance Tax (IHT).

Some people think that this only affects the rich, others do not want to think about it because it is something associated with their death. But, IHT can present many pitfalls for the unwary – for instance, it can be charged on certain transactions that happen in your lifetime.

Inheritance tax planning will allow you to clearly set out who will get what from your estate, as well as allow you to maximise inheritance tax reliefs and exemptions if your estate is worth more than the inheritance tax threshold.

We can advise you on ways of minimising or, if possible, avoiding it all together.

Make a will

Your will forms an important part of making sure that your wealth is passed on exactly as you would like it to be.  If you do not make a will, this may not happen, as your estate will be shared out amongst your next of kin according to a strict order of priority called the ‘rules of intestacy’. This means that people you want to benefit from your estate – such as a partner you’re not married to or in a registered civil partnership with – might get nothing

Shareholdings

Many shareholder agreements provide for actions in the result of the death of the shareholder. Working with specialist advisors, we can ensure that these agreements are properly worded and form part of your estate planning.

Next steps – book a free one-hour consultation

We also offer all prospective clients a free one-hour consultation, with no obligation to use our services beyond that meeting. Call us today on 020 8686 8876 or send us an email to book yours.

Cruse & Burke,
73 Park Lane,
Croydon,
CR0 1JG

Tel: 020 8686 8876

Email: info@cruseburke.co.uk

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