INHERITANCE TAX PLANNING:

PROFESSIONAL ADVICE,  EFFECTIVE SOLUTIONS

VALUE FOR MONEY

Inheritance tax of 40% is due on the amount by which your estate at the time of your death exceeds £255,000 (as at February 2004). Your estate for this purpose is your entire worth, after any appropriate reliefs, and will include all your personal belongings, investments, etc., together with your share of any jointly owned assets (e.g. the family home). An interest in a trust may also in some circumstances be included.

Clearly, therefore, even with a relatively modest chargeable estate, the amount of Inheritance Tax payable can be substantial.

Sibbald & Co. can help reduce this liability by assisting you in the planning of your affairs in a tax efficient manner. With a little forethought and planning, the amount of Inheritance Tax payable upon your death can be reduced or even avoided altogether.

We can advise you on the Inheritance Tax implications of the following situations:

• Gifts between husband and wife
• Annual gifts and other similar reliefs
• Gifts to charities, political parties, etc.
• The use of Trusts
• Potentially Exempt Transfers (PET’s)
• Reliefs in respect of business and agricultural property
• The implications of retaining a non-UK domicile
• The interaction with Capital Gains Tax

We will ensure that all Inheritance Tax saving possibilities have been considered prior to advising you on the preparation of your Will, thereby giving you peace of mind.

Sound Inheritance Tax planning coupled with a well drafted Will is the best inheritance you can leave your beneficiaries, preventing unnecessary costs, delay and anxiety.