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Tax, Trust & Estate Planning

We can provide expert guidance on tax and estate planning. Assisting you to plan in the most tax efficient way and helping you reduce your tax liabilities in all aspects of your life.

After having worked hard to build up your estate, it is important that you have a solid plan in place. This means you can pass on that wealth to the people you care about and minimise the amount of tax you pay.




Tax Planning

It's important to make sure you aren't paying more tax than you need to. Taxation can be very complicated and the rules, reliefs and allowances often change. This is where we can advise you.

Tax is often the last thing that is considered by families when a relative dies. However, you should be prepared and plan ahead.

We can talk you through the simple steps you can take now to plan for what is to come. We will help you to structure your estate and financial arrangements so that your assets can pass to your beneficiaries tax efficiently.

Tax Planning is not regulated by the Financial Conduct Authority.




Trust Planning

Trust Planning helps you to manage assets for the future, so that you can plan ahead and know that taxation is being mitigated.

Since trusts usually avoid probate, your beneficiaries may access these assets quicker than they might access assets that are transferred using a will.

The Financial Conduct Authority does not regulate advice on Trusts.




Estate Planning

As a consequence of increasing property prices more people than before have found themselves becoming liable for Inheritance Tax. If your estate is over the inheritance tax allowance (currently £325,000) when you die, it will be subject to a tax, known as Inheritance Tax (IHT).

Residence Nil Rate Band

Each eligible individual can claim an additional inheritance tax allowance of £150,000 (tax year 2019/20), (reducing by £1 for every £2 that an estate exceeds £2,000,000) to offset the value of a family home on death, on top of their existing £325,000 inheritance tax exemption. This new tax allowance will rise to £175,000 in 2020/21 and thereafter will increase with inflation each tax year. It can only be claimed where a main residence is passing to direct descendants on death and the amount can't exceed the property value.

There is a wide range of investment products which are acceptable to HM Revenue and Customs and which enable investors to reduce their potential liability to either income tax or IHT or both.

Pension scheme members can also reduce their family's liability to IHT on the value of the member's death benefits by leaving the funds within a pension wrapper (beneficiary's flexi-access drawdown) or having a lump sum paid to a bypass trust.

Ultimately, financial planning will focus on what happens to the estate when you are no longer around, we can help by talking to you about the importance of making a will and the basics of IHT. Should you then wish to find out more about estate planning and IHT we can arrange an initial discussion.


The Financial Conduct Authority does not regulate Estate Planning.




On Bereavement

Investments which form part of a deceased's estate are re-valued at the date of death, so if they are sold there will be no capital gains tax to pay on any profits arising up to the date of death.

An additional service which most professional advisers are able to provide is cashflow forecasting. This uses specialist technology to calculate the period of time over which a given investment portfolio might be expected to meet identified needs for income and or capital.





Capital Gains Tax

Capital Gains Tax

Let us help you make sure you aren't paying more than you need to.

Individuals are entitled to an annual exemption. If you think that your investments have made substantial gains and you have not yet made use of your annual exemption, you should consider taking financial advice as you may be able to utilise your annual exemption, or reinvest in an ISA (subject to the ISA limits).

Civil Partnerships

Inheritance Tax

Inheritance Tax is a tax on the deceased's estate in excess of their nil rate band(s). Any ownership of a business, or share of a business, is included in the estate for Inheritance Tax purposes but in some cases will qualify for relief from inheritance tax. Let us help you with your Inheritance Tax liability.

The Inheritance Tax threshold remains unchanged for 2019/20 at £325,000, whilst the residence nil rate band has increased to £150,000. This means individuals (with direct descendants) may be eligible for a residence nil rate band so they can pass their home, or its value, on to their children or grandchildren potentially tax-free after their death.

Inheritance Tax

Trust Arrangements

Trusts can be a useful means of preserving wealth, by allowing assets to be passed down through the generations in a secure and tax efficient manner. There may be tax advantages in setting aside assets in a trust.

 



The Financial Conduct Authority does not regulate Inheritance Tax Advice where there is no investment element.

The Financial Conduct Authority does not regulate Will Writing or taxation and trust advice.

Tax advice which contains no investment element is not regulated by the Financial Conduct Authority.