Navigating Future inheritance tax implications
Helping you plan for this generation and the next
- Inheritance Tax Planning
- Domicile considerations
- Family Investment Companies
- Succession Planning
- Trusts structures
Inheritance tax can be a sensitive subject; having spent your life working hard it’s vitally important that you have the peace of mind to not only enjoy life now but also to know that when you pass money on it is done as effectively and efficiently as possible.
It is important that you act proactively to avoid what can be significant inheritance tax implications on your estate. For example the treatment of your pension, trusts or use of gifts can have a significant upside for your estate and leave you safe in the knowledge that you’ve done all you can to plan for the future.
No two estates are the same and our Private Client team love working with you to understand your very unique personal circumstances and to help tailor a plan for you accordingly.
These are just a few related articles to give you further insights and information
Domicile and IHT
Domicile is a general legal concept which in basic terms is taken to mean the country where you permanently belong. But actually, determining domicile status can be complex.
IHT business asset relief
There are a number of reliefs available that can reduce liability to IHT if you inherit the estate of someone who had died.
How Do You “Claim Non-Dom Status” for UK Tax?
What is ‘non-dom’ tax and can you claim it? James MacDonald, Private Client Tax specialist at Ecovis, answers the question about tax status claimed by Rishi Sunak’s wife Aksh.
Inheritance Tax-free gifts reminder
We wanted to remind our readers of the Inheritance Tax (IHT) implications of making cash gifts during the current 2021-22 tax year that will end on 5 April 2022.
You can give away up to £3,000 worth of gifts each tax year. This is known as your
Bare or simple trusts
A trust is an obligation that binds a trustee, an individual or a company to deal with the assets such as land, money and shares which form part of the trust. The person who puts assets into a trust is known as a settlor and the trust is for the
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