Inheritance Tax (IHT) is levied on individual or joint estates that exceed the Governments set exemption level. These exemptions change with legislation and therefore with careful planning any liability can be reduced or avoided completely.
There are many different routes to reducing your IHT bill and there is no method that will be correct for everyone. Therefore, it is always wise to seek advice in this complex area to reduce the risk to your finances and protect your estate in line with your wishes.
Part of this planning sees it become vital to ensure your will is up to date as there is little point in tax planning before succession planning has been addressed. We will be happy to work with your legal advisers in creating IHT mitigation plans.