Inheritance Tax Planning (ITP)

The Fantastic Funeral Company has access to professional expertise concerning all aspects of ITP. We have provided some basic, generic information below, but please contact us to discuss your individual requirements.

The law currently allows you to leave an estate worth up to £325,000 (as at April 2010) without any Inheritance Tax charge falling upon it. This £325,000 is called the 'Nil Rate Band'. After the Nil Rate Band, the remainder of your chargeable estate will be charged 40% Inheritance Tax.

Inheritance Tax ( IHT ) is becoming an important consideration for an increasing number of taxpayers. As a result of spiralling property values, the family home is often a major factor in many people falling into the IHT 'net' for the first time. This highlights some basic IHT principles as an initial reference point.

An individual who is domiciled in the UK is liable to IHT on chargeable property on a worldwide basis. A non-UK domiciled individual is also liable to IHT , but only on chargeable property in the UK.

Need some help?
It is important to plan ahead and think about Inheritance Tax Planning as there are several ways to transfer assets and reduce IHT .

The Fantastic Funeral Company can introduce you to a Chartered Accountant who is also a well qualified Independent Financial Adviser, Chartered Financial Planner, Certified Financial Planner and Member of the Society of Trust & Estate Practitioners. He is a specialist elderly client adviser who is also authorised to advice on Care Fees Planning. Initial overview appointments are generally offered FREE of charge and from then on, a fixed fee is agreed.

 
If you have some questions, please email The Fantastic Funeral Company here, or telephone us on     0113 269 7892.
 

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