Inheritance Tax (IHT)
Inheritance Tax can be a major issue. Without careful planning of your estate you or your beneficiaries could eventually become liable to tax.
The Inheritance Tax threshold (or 'nil rate band') is the amount up to which an estate will have no Inheritance Tax to pay.
If the estate - including any assets held in trust and gifts made within seven years of death - is more than the threshold, Inheritance Tax will be due at 40 per cent on the amount over the nil rate band.
The nil rate band from 6th April 2009 is currently £325,000 per individual.
We believe Inheritance Tax is a voluntary tax. There are many solutions available to mitigate this tax. Beardmore & Company have acquired the knowledge and expertise over the years to help you and your family benefit from your prudence.