Inheritance tax is a problem for any individual with assets exceeding £325,000 (£650,000 for a married couple).
But do not worry, we have solutions to help mitigate the potential to inheritance tax. There are many allowances which we find clients have not utilised prior to meeting with us such as outright gifts, using trusts, AIM Portfolio's, Business Property Relief (BPR), Enterprise Investment Schemes (EIS's) and Venture Capital Trusts (VCT's) but to name a few.
We believe that there are very few reasons that people should still be paying large amounts of inheritance tax anymore and, that with proper planning, inheritance tax can largely be negated. Of course this involves trade-offs and usually giving up access to some of your assets or utilising an investment vehicle which has an element of risk.
Ideally you should start planning early. If you already have assets above the thresholds mentioned above then you should start planning now, but don't worry if you have left it quite late, there are still plenty of things you should be doing.
So please allow us to help; we offer initial meetings at our expense and can let you know if we can help you there and then.