Although not an easy matter to consider if you wish to maximise provision for your family/beneficiaries you do need to plan your affairs in advance.
The earlier you make arrangements, the greater the chance of taking full advantage of the Inheritance Tax planning opportunities available. This will minimise the amount of money that is paid over to H M Revenue & Customs and reduce the burden on your loved ones.
Issues to consider
There are many issues to consider when planning to transfer your estate. You need to ensure that you strike the right balance between maximising tax savings and making adequate provision for yourself and your family during later life.
We can help you:
- Review the terms of your will
- Utilise exemptions and lower tax rates on lifetime transfers of assets including transfers between spouses
- Transfer a business (including shares in family companies) or agricultural property
- Transfer assets into trusts
Contact Us
For more help with Inheritance Tax and Inheritance Tax planning contact your local MFW office.
We offer a free initial, confidential and no obligation consultation which can be booked direct with our Ashford, Cranbrook, Dover, Herne Bay, Maidstone and Sittingbourne offices. Or, by completing our online contact form.
McCabe Ford Williams act as both business and personal tax accountants. Our personal tax services also include advice on Income tax, Trusts and estates and Capital Gains Tax.
Our Senior Partner, Ian Pascall FCA, recently issued a blog following a review made by the Office of Tax Simplification (OTS) to the Chancellor making their recommendations to Inheritance Tax. You can read his blog here.