JS. Tax Advisory
Inheritance Tax
Paying tax on value that has accumulated net of tax can be a bitter pill to swallow. With careful planning that does not have to be the case, allowing you to leave more to your loved ones.
We have a team of experts on hand to give you the best possible advice.
How can we help?
1. Lifetime Gift Planning
The first question is: what can you afford to give away?
No one can predict tomorrow; however, we work with a bank of financial planners to consider what you may need and what may be surplus to requirements.
We then devise bespoke plans to ensure gifts can be made without any tax consequences. This may include:
- Transfers to family trusts
- Transfers to individuals
- Making use of annual gift allowances
- Gifting out of surplus income
2. Reviewing Business Structures
Many businesses qualify for inheritance relief, however, that may not be the case if the business is an investment business or holds investment assets.
We will review the business to consider if relief is available in full and if not, consider options to secure relief. As an example, this may include restructuring the business to protect the trading value for Inheritance Tax purposes.
3. Wills, Trusts & Probate
One of the most important things is knowing that your loved ones are provided for, even after you're gone. By drawing on our specialist knowledge in this field and putting the foundations in place for that provision, we can help provide you with the assurance you need whilst seeking to minimise future Inheritance Tax liabilities.
We get to the heart of what it is you want to achieve, and work closely with our Wills, Trust, and Probate team to ensure your Will is structured as tax efficiently as possible
Case Studies
Inheritance Tax Planning
One of our clients owns a mixture of businesses with a value running into tens of millions of pounds. Some of them are trades for tax purposes and therefore qualify for Business Property Relief. Others do not.
Successful inheritance of aged Trust with no penalties
JS worked on an interesting and challenging estate where the client’s grandfather had passed away in the late 1990s.