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INHERITANCE TAX

Inheritance Tax (IHT) is a tax on a person’s capital wealth and is usually paid on their death. There are allowances and exemptions to IHT and not everyone is required to pay it. There are ways to mitigate IHT over a person’s lifetime and after their death.

The team at Vale Wills Ltd are experts in IHT and can advise clients on:

  • The rules and explanations of IHT including: Nil rate band, transferable nil rate band, residence nil rate band, transferable residence nil rate band, spouse exemption and charity redemption.
  • Effective lifetime gifting and which gifts are exempt of IHT.
  • Business Property Relief.
  • Agricultural Property Relief.
  • How to reduce the rate of tax (36%) when giving over 10% of your estate to charity.
  • Deeds of Variation to vary the beneficiaries of an estate post death to assist with their own tax planning.