Tax Planning

Inheritance tax is payable on all inheritance in excess of a certain amount. The current threshold is £325,000. This means that any inheritance below this amount will fall into the ‘nil-band’, and shall be free of tax. The amount of inheritance tax that you will pay outside that nil band is set at 40%.

It is a complex area and our specialist advisers have an intimate understanding of the best way to plan ahead to help minimise the amount of inheritance tax your estate will pay.

As clients get older they need to consider their financial circumstances as a whole. When thinking about Wills, it is sensible to consider the tax advantages of making lifetime gifts to family members or others. Gifts made more than seven years before death are exempt from Inheritance Tax and do not form part of the donor’s estate, provided no benefit is reserved in the asset by the donor.

For advice and further information please contact our Wills and Probate solicitors on 020 8826 1203 / 020 8826 2273 or email us at info@caseandlaw.co.uk. Alternatively, you can fill out the contact form below to arrange for a call back from one of our specialist solicitors.

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