Making provisions for your loved ones after your gone is a fundamental part of managing your estate and assets. Without careful tax planning advice, inheritance tax - a duty paid on your property and belongings after death - can take a sizable portion out of the gift you wish to pass on. Charged at 40%, Inheritance Tax is applied to property; cash in bank accounts and personal belongings, foreign assets and even assets you have given away in the last seven years.
What we do and where we specialise
Based in York and Lincoln and helping clients across the UK, our friendly team of solicitors offer expert inheritance tax planning advice, helping you plan your estate, making it as tax efficient as possible to maximise the benefit of your financial legacy.
Our team can help you with:
When it comes to business and estates, ensuring that management and ownership is transferred efficiently to the next generation is vital for continuity. Where families or estates and their interests are large or complex, early planning is advised.
Exemptions and Reliefs
There are circumstances, such as gifts to charity, spouses or Nil Band Rates, when taxes do not apply. Making best use of all options available to you can significantly reduce the impact of inheritance tax.