Inheritance Tax Planning

Once considered to be a tax on the wealthy, Inheritance Tax is now a financial burden on a growing number of families, and obtaining appropriate advice could save thousands of pounds. With the rise in property prices seen over the last decade, and the mediocre rise in the amount individuals are allowed to leave free of Inheritance Tax (known as the ‘Nil Rate Band’) many people now find themselves in a situation where Inheritance Tax will be payable on their estate if they die.

Planning ahead could enable you to avoid or reduce the impact of such a tax on your estate, as properly arranged tax and estate planning is one of the easiest ways to improve the financial position of your beneficiaries.

Inheritance Tax planning can be complex, and requires specialist knowledge. As Chartered Financial
Planners, WTK Financial Services Ltd will identify a suitable strategy for you and your beneficiaries.
Our Inheritance Tax planning advice is focused on achieving tax-efficient preservation of wealth to the next generation.

How We Can Help:

In general, the principal methods that could be employed are:

  • Careful use of will planning
  • Utilising a wide range of HMRC Approved Trust and Investment based approaches. We can offer Inheritance Tax planning arrangements that allow access to capital during the investor's lifetime, or plans that allow access to income. Trusts come in a wide variety of forms, and are subject to legislative change,
    and our expertise allows us to understand this complex area, and arrange a solution that takes into account a client’s need for capital and income during their lifetime, balanced with the wish to avoid Inheritance Tax upon death.
  • Investment in business assets, which can facilitate the use of beneficial Business Property Relief.
  • Whole of life insurance written in trust, where benefits would be outside the estate, and provision is made to meet the liability.
Really effective planning needs to be done in plenty of time, but it requires careful balancing of all the circumstances and objectives. We are able to implement Inheritance Tax planning strategies that give a high degree of flexibility, or plans that can create a rigid structure to ensure that the wishes of the investor are stringently met.
Tax and trust planning is not regulated by the Financial Conduct Authority.