IHT Expert Tax and Estate Planning Advice - Already Planned For Inheritance Tax
If you have already looked at your estate and have made plans. Well done, your beneficiaries should be proud of you.
Keep up to date: The Chancellor keeps changing the rules
Now that you have made plans you must make sure that they are up to date or you could find your beneficiaries ending up with less than you intended.
- Did you know the Life Insurance Trust Rules have changed? Be careful if you change beneficiaries.
- Did you know the rules on Investment Trusts have changed? Is your trust now taxable?
- Is your Will up to date? Rules have changed on property and rights that you may have left for your spouse or family.
- Pre-owned assets tax - have you heard about this? If you have placed something in trust that you enjoy a benefit from - H M Revenue and Customs now tax it?
- Has your estate gone up faster than the nil rate tax threshold? Each year the nil rate band is reviewed in the Budget by the Chancellor but that does not mean the tax bill is staying the same.
You need to be aware of any growth that takes place within your estate and make sure that it is covered.
Since planning for Inheritance Tax have you actually looked at the amount the value of your savings, investments, property and possessions have increased by?
Request expert inheritance tax advice today or buy your own tax planning pack in the Money Shop.
