Inheritance tax planning

Inheritance Tax (IHT) is a tax payable on death and on gifts during your lifetime.

As with all capital taxes, the rules relating to the taxation of gifts and deemed gifts are complicated and there are numerous relief and allowances allowable to mitigate the impact of IHT.

In order to minimise the impact of IHT, individuals should review their wills and potential exposure to IHT on a regular basis. Accura Accountants Limited can assist in the mitigation of potential IHT.

Where IHT can be forecast as a potential liability, steps can be taken to cover the settlement of such liabilities for example by taking out appropriate life cover policies to meet these anticipated liabilities or making “life-time disposals” of assets.

If you have a specific query for our IHT team, or you would like some more information on the IHT services we provide, please contact personal.taxation@aabrs.com