Hardly a day goes by when IHT is not mentioned in the media.

Certainly the major political parties often use IHT to score points over their opposition.

Rather than get involved in the political squabbling we have tried to explain:

• What Inheritance Tax planning is.
• What it may mean to you. 

Inheritance Tax in the United Kingdom may be considered to be a voluntary tax because there are options available which may mean that you can cut your liability, providing you do some advance estate planning and tax planning

Do you want to volunteer to pay Tax when you may not  have to? Contact Ashwood Law for Inheritance Tax advice now to see if they can help you.

The value of your house is included in your assets when you die. The value of your property may mean that your total assests are above the nil rate tax band for IHT. 

• It may be due when a person dies in the UK. 
• If Inheritance Tax is due it must usually be paid within 6 months of death. 
• UK residents may have to pay it on their worldwide assets.
• If you have lived in the UK for 17 of the past 20 years you will be treated as being a UK resident for the purposes of IHT.
• If you live outside of the UK you usually only have to pay it on your UK assets.
• Certain Exemptions are available which may mean that some legacies and gifts are exempt from IHT. These can include transfers between spouses and charity legacies.

Key IHT Facts

Remember IHT Could Be Mitigated

Why not attend one of our Free Seminars. You will be able to find out how good Estate Planning and the use of Trusts and Wills may help you mitigate your Inheritance Tax liability. 

Your needs, wishes and aspirations for your family will be individual to you. Therefore the solutions to mitigate the problem will also need to be tailored to your circumstances. 

If you want to look at mitigating any Inheritance Tax liability in the United Kingdom then book an appointment to see one of our independent advisers. See if Ashwood Law can help you.