TaxQube™ Group

Inheritance Tax Planning

We are a firm of chartered accountants and tax advisers supporting businesses and individuals with their accounting and tax matters.

It’s never too early to start planning

Inheritance tax receipts hit a record high of £5.2bn and HMRC show a further increase especially due to unplanned deaths as a result of the Coronavirus pandemic.

Many more people have been stung by inheritance tax (IHT) in recent years after steep rises in house prices and an increase in buy-to-let entrepreneurs in the housing market. Each individual has a tax-free allowance (£325,000 fro 2019/20), known as the nil-rate band. IHT only applies to the value of the estate above this at a rate of 40 per cent on death.

taxqube Why do I need Inheritance Tax Planning?

Inheritance is a type of taxation that can take away a significant part of your wealth if you don’t plan it properly. We have seen cases in which taxpayers have simply delayed matters to a point where it was frankly too late to maximise the full benefits of inheritance tax planning.

With the introduction of new allowances and using tax planning techniques, we can assess your tax position to ensure that your hard earned money is safe and protected from surprised taxation. A lot more people are now in the IHT bracket due the increase in UK property values.

Book a free consultation with us today. We don’t ask you to invest your money in order to reduce IHT exposure, our advice is based on the use of basic inheritance tax planning techniques in a proactive manner.

taxqube What we can do for you?

We start with the basics tax planning strategies, we work with you to understand what is your current position. In other words, what if you do nothing and the inevitable happens. This gives us a good starting point, we can apply different strategies to reduce the tax exposure to a point where you are comfortable.

taxqube How much is it?

Our charges depends on the complexity of the case. We can appreciate that most people are not comfortable giving away assets whilst they are alive and therefore, a plan needs to be put in place.

Please complete the “contact us” form below and tell us which services are of interest. We are happy to agree a fixed fee for the required services. We can also offer you interest-free monthly instalments.

taxqube FAQs

If I’m married, would I exempt from IHT? Only  if you leave your entire estate to your partner but your partner might be subject to tax. By not planning, you could still lose a large chunk of your wealth.

Will I have to pay IHT on my home? In 2015, the government introduced a law that allows main residences with values up to £1m to be IHT-free.

How is my estate valued? In essence, by deducting the value of your liabilities from the value of your taxable assets.

Who pays the IHT? Usually the estate of the deceased pays the tax, but sometimes it’s the beneficiaries. Some people take out insurance to pay IHT.

Looking for a Specialist?

Our Expert Team Can Help

Experienced Tax Advisers | Monthly Fixed Fee | Chartered Accountants 

To find out more, complete the enquiry form or call us on 0208 1234 768

Please provide as much detail as possible. One of our experienced business advisers will contact you to discuss further.