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With the ever-increasing value of properties and assets, Inheritance Tax (IHT) is a growing concern. Upon death, following the deduction of the Nil Rate Band (NRB) allowance and Main Residence Nil Rate Band (MRNRB), which is currently a total of £500,000 for individuals and £1,000,000 for married couples, any remaining assets may be liable for tax at a rate of 40%.
We know that every estate is different, and so are the people who own them. You may have different goals and wishes for how you want to pass on your wealth. That means there is no one-size-fits-all solution for transferring your assets. Before we can help you reduce and protect your estate from inheritance tax, we need to understand your situation. The first thing we do is to list all your assets, figure out how much you owe, think about how wills and trusts can help you, and check if you qualify for any tax breaks.
We know that every estate is different, and so are the people who own them. You may have different goals and wishes for how you want to pass on your wealth. That means there is no one-size-fits-all solution for transferring your assets. Before we can help you reduce and protect your estate from inheritance tax, we need to understand your situation. The first thing we do is to list all your assets, figure out how much you owe, think about how wills and trusts can help you, and check if you qualify for any tax breaks.
Edgemont Financial Services advisers leverage their in-depth understanding of inheritance tax relief and exemptions to assist clients in making prudent investment decisions.
Several exemptions apply when distributing all or part of an estate, meaning there may be little or no inheritance tax to pay. These can include:
There are also many specific investments that use these exemptions, including:
Wondering if you can benefit from inheritance tax relief and exemptions? Get in touch today to discuss your requirements with one of our professional advisers.
If you have a question or would like any further information, message us now!
Edgemont Financial Services Limited / Registered in England and Wales No: 11327586.
Edgemont Financial Services Limited is directly authorised and regulated by the Financial Conduct Authority. Edgemont Financial Services Limited is entered on the FCA Register (www.fca.org.uk/register) under reference 842215.
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