Inheritance Tax Planning

Effective Inheritance Tax (IHT) planning is an important part of anybody’s financial planning and has the ability to save a family hundreds of thousands of pounds. IHT and professional advice could help you pay less tax on your estate.

At present, IHT is charged at 40% on anything you leave over £325,000 when you die (£650,000 for married couples or registered civil partnerships). With rising property prices in recent years, this has resulted in more people being subject to IHT and the current thresholds are set to remain until 2014, making now the time to review your potential liability and finding out what you could do to reduce, or even eliminate, this burden.

One of the most important things you can do to help reduce the amount of IHT you may have to pay is write a will, making it clear to whom you want to leave your estate to upon your death. This ensures that your well-earned wealth accumulated through your life goes exactly to whom you want it to rather than to the tax man!

We then advise on and put in place appropriate IHT planning strategies which can be conducted each year to minimise any potential IHT bill, ensuring the most amount of money possible goes to those intended. Strategies we implement include giving regular small gifts away, transferring money between spouses and civil partners, normal expenditure out of income, and gifts to any children or grandchildren getting married.

By taking steps now and getting sound independent financial advice, you could reduce or even eliminate this potential future burden for your loved ones at what would already be a difficult time – while in some cases retaining full control of your estate.

Hutt Professional was founded in 1962. We bring 50 years experience to the table in helping clients make best use of their money to reach their unique goals and aspirations. We have fully qualified experienced independent financial advisers ready to help you identify the most appropriate IHT solution for you.