Mortgage adviser Telford

Inheritance Tax and Estate Planning

What is inheritance tax and does it apply to me?

Mortgage adviser Telford

Inheritance tax (IHT) is calculated and payable on your estate upon death. This includes assets such as property, savings and investments – even works of art, jewellery and cars. Usually, if your estate is worth more than the £325,000 threshold set by the government, you will be eligible for IHT. However, if you pass your home (your main residence) on to a child or grandchild, then the threshold may be raised, depending on your circumstances, to £500,000 or even £1 million.

Reducing the Bill

Should you be lucky enough (or not) to have an estate that IHT is applicable on then it’s important that you have options that allow you to mitigate some, if not all of the liability.
There is no “one size fits all” when it comes to this as clients will have varying priorities and needs, all of which will need consideration and discussion. Some of the more common solutions involve the use of:

  • Trusts
  • Insurance Policies
  • Specialist Investments

We will work with you in these areas to ensure that your estate is passed on to your beneficiaries as you intended.

Contact Us

For more information on of the above services, please get in touch to arrange and informal, no-obligation chat with a member of our financial planning team.

COVID-19 Update.

Please note, due to the impact of Covid-19, timescales for mortgage applications and completions may take longer than usual. We apologise for any inconvenience this may cause.