Tax Planning
This is an area of increasing interest, partly due to the rise in house prices over the recent years. This firm is particularly enthusiastic about this area of law.
We are happy to help those whose estate exceeds the Nil Rate Tax Band (currently £275,000) to mitigate as much of their likely charge to inheritance tax on their death as is possible.
We take time looking through the assets comprising your estate to see how we can maximise the use of the exemptions and reliefs available to you.
We provide lifetime planning through the effective use of trusts and are always happy to liase with any trusted accountant or financial advisor you may have.
The ability to mitigate your liability to inheritance tax through the careful drafting of your Will should not be underestimated. We offer advice among other things on Nil Rate Band Discretionary Will Trusts and the effective use of Business Property Relief and Agricultural Property Relief.
Even following death, we can often reduce the charge to inheritance tax by working with the beneficiaries to draft a Deed of Variation. This Deed effectively rewrites the Will of the deceased to make full use of the Nil Rate Tax Band and other exemptions and reliefs that may be available. Such a document can only be drafted within 2 years of the deceased's death.
Our paramount objective is to meet your requirements but we aim to do this in as tax efficient way as possible. We will never persuade you to lose control of assets or leave assets in trusts just to save tax.
Please contact us if you wish to discuss any of these issues further.
Contacts
- Bethan Owen - 01633 251801
