Inheritance Tax is widely known to be the UK’s least favourite tax and yet most people still don’t plan ahead for the inevitable happening. Regularly people leave the planning of their estate until it’s too late and with some careful thought in advance it’s a liability which can be reduced. This is ever more important since Deeds of Variation are in line for closer scrutiny.
A typical situation is one which involves people with large property portfolios in either a company, partnership or held personally. Most advisors believe that a re-structuring of this nature will incur either a large Capital Gains tax charge or heavy Stamp Duty Land Tax costs – but that is not necessarily the case! With our expertise in this area we can help clients to significantly, or even completely reduce their exposure to IHT.