Estate
and inheritance
tax planning

Estate Planning Solutions

Nobody would wish for HM Revenue & Customs to be the biggest beneficiary of their estate when they die, but that scenario is increasingly possible without the correct planning in advance. Once considered a tax on the truly affluent, Inheritance Tax now affects more families than ever before.

An estate may be subject to Inheritance Tax if, on death, it exceeds the individual’s nil-rate band threshold, which currently stands at £325,000. The value of the assets above the £325,000 inheritance tax threshold may be subject to up to 40% tax.

There are numerous methods used to help mitigate Inheritance Tax, such as gifting, will planning and the use of trusts. We want to help you understand what these strategies are, and together create a solution which ensures your wealth passes to your chosen beneficiaries. The earlier you start planning, the more effective your plan will be.

Forward planning is critical. It is far better to do something sooner rather than later, to ensure your heirs don’t have to face an unnecessarily large Inheritance Tax bill when you die.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.

Will writing involves the referral to a service that is separate and distinct to those offered by St. James’s Place and along with Trusts are not regulated by the Financial Conduct Authority.