Inheritance Tax may
not the be the first form of taxation which
springs to mind when you think of tax. After
all, it is not a tax which you pay personally.
It is a tax payable out of your estate after
you die. However, since the rate of tax is
currently 40%, it can make a substantial difference
to the value of your assets which you can
leave to your heirs on your death.
As with most forms
of tax in this country, careful planning in
advance can often substantially reduce the
amount of tax payable. There are various reliefs
available and exemptions which can be used
to reduce the impact of Inheritance Tax on
your estate. Also, there are various practical
matters which can be implemented to make things
easier for your personal representatives and
beneficiaries.
As a member of STEP,
the Society of Trust and Estate Practitioners,
John has demonstrated his
expertise in this area of tax planning which
can be available to you by contacting him
direct. Do not let the taxman be a major
beneficiary of your estate.
