Inheritance Tax Planning

old coupleMost people would find it offensive if a dead man found in the street had his pockets rifled and his wallet robbed of 40% without so much as a thank you, yet a similar thing happens everyday in many countries with inheritance tax. Inheritance tax is the only tax we volunteer to pay because it can be avoided, ensuring that our estate passes to whoever we wish, including registered charities. 

Paying tax is an important part of funding our day to day public services so it's important that we all make our contribution. It is also important that we make use of allowances. Not so long ago it seemed that only the rich planned to avoid Inheritance tax (IHT) and allow their estate to pass to their children or relatives, but with the immense growth in the property prices throughout the UK quite often the common working man is faced with the prospect of their estate being taxed. IHT is often referred to as the voluntary tax as there are several ways to avoid this as long as it's not left too late. 

With appropriate trusts and inheritance tax planning we can help you avoid making the taxman your largest beneficiary when you die.

Not all Inheritance tax is regulated by the F.C.A.

 

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OnTrack Financial Planning Ltd. is authorised and regulated by the Financial Conduct Authority FCA Firm Number: 566312
Registered in Scotland, Registered No.SC406825, Registered Address: 6 Wallace Brae Grove, Reddingmuirhead, Falkirk, FK2 0FF.