Ipswich Financial Adviser

If you feel you could potentially have an issue about paying Inheritance Tax then it is always best to seek professional help, as there are many ways to eradicate or reduce this liability.

One way is to gift money out of income to your beneficiaries while you are alive. This type of gift, subject to certain rules,  does not attract inheritance tax, so you reduce the level of your estate.

There are certain rules that the HRMC attach to this,  one of the most important, is that the regular gift out of income should not impact your normal standard of living. In others words the gift does not affect the way your run your live.

There are other issues to consider, but if you do receive more income than required and you are at a stage in your life that you don’t need all that income, then planning around the disposal of some of this income can help towards inheritance tax planning.

If you require any help or advice on inheritance tax planning then please feel free to contact Thompson Financial Consulting and we will be happy to help.