Practical Inheritance Tax Planning Advice From Expert Inheritance Tax Accountants
When it comes to leaving your Assets to your loved ones, you would want to leave them behind as much as possible. Affinity Associates’s Expert Inheritance Tax Accountants in the UK can help you maximize the amount you leave behind for your loved ones by helping you prepare the planning in advance.
An inheritance Tax is a mandatory tax on the property, belongings, and money of someone who has passed away. It needs to be paid to HMRC (HM Revenue and Customs). Currently, the threshold of Inheritance Tax is £325,000 per person. Therefore, civil partners or married couples can have total assets of £650,000 before any Inheritance Tax is payable. Anything more than the Inheritance Tax threshold is chargeable at 40% tax.
There are several ways, however, to minimize the Inheritance Tax! For instance, charitable donations, lifetime gifts, and other forms of tax planning can help reduce the impact of the Inheritance Tax. At Affinity Associates, we have wide knowledge and expertise to help our clients do Inheritance Tax planning well in advance to minimize their tax liability.
Inheritance Tax Accountants in London UK?
We have expert tax accountants in the UK, who have extensive knowledge of various personal and corporate tax affairs. Whether you need advice on Inheritance Tax or Capital Gains Tax, Affinity Associates is your best partner.
Affinity Associates can help you:
- Advice on making gifts (potentially exempt transfers)
- Structure your Will to reduce Inheritance Tax
- Advice on “Business Relief”
- Restructure your inheritance plans
- Advice on taking life cover