Estate planning and inheritance tax

When you’re no longer around to look after your loved ones, you want to make sure that they are financially secure.

Inheritance tax (IHT) is levied at a hefty 40 per cent on estates above an allowance known as the nil rate band – currently £325,000 – so forward planning is essential to ensure that as much of your wealth as possible goes to the people you want it to, rather than to the taxman.

Seeking expert advice is a wise investment in protecting your wealth, avoiding unnecessary tax bills and ensuring that your assets, including your business, are dealt with as you wish.

The earlier you make your arrangements, the greater your chance of taking full advantage of tax opportunities available, so that your beneficiaries receive the maximum benefit.

Through our estate planning and inheritance tax services, the team at Fiander Tovell accountants in Southampton can work with you to identify tax-efficient opportunities, including:

  • the transfer of assets into trusts
  • transferring business assets
  • help with reviewing and drawing up wills
  • planning in relation to the family home
  • lifetime gifts
  • advising on insurance cover to meet potential inheritance tax liabilities.

When planning your estate, you also need to be sure that you make provision for yourself and your partner to enjoy a comfortable lifestyle in your later years and for care in the future, should your health deteriorate.

We’ll use our extensive experience in estate planning and inheritance tax to advise you on appropriate tax-efficient measures.

For more information on how Fiander Tovell accountants in Southampton can help you, please contact us.