IHT used to be considered a 'voluntary' tax for the extremely wealthy. However, with a history of rising house prices and a 7 year cumulative limit for gifts of £325,000 above which IHT is payable, more people are straying into this voluntary tax. Why voluntary? Because with the right planing advice now, you can reduce or eliminate your IHT burden in the future.
It comes as a nasty shock to many that following a loved one's death they are paying up to 40% of their estate to the Government. Moore Stephens' private client team look to provide you with a range of opportunities to reduce the Government’s take on death through efficient use of wills, trusts and other financial products.
Trusts should also feature in the personal wealth management plans of any owner-manager providing flexible opportunities to reduce future income tax, capital gains tax and inheritance tax burdens looming on the tax horizon.