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On the eve of what is sure to be Alistair Darling's most important political statement there is speculation and counter speculation about how he will address the situation of the UK economy next...
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Sunday 28th September 2008
While only a decade ago the number of people caught by the government’s inheritance tax system was tiny, it has really started to grow over the last ten years. We have seen the Inheritance Tax (IHT) allowance (the tranche of any estate which can be beneficiaries transferred tax free) slowly creep higher but often well below the rate of inflation.
This means that more and more people are not being caught in the IHT trap with asset over the allowance currently charged at 40%. People seem to forget that many homes in the UK would push any estate over the current IHT limit of £300,000 per person before taking savings, insurance, etc into account. So what can you do about it?
St. James’s Place, the leading wealth management group, has produced a guide which explains the basis for the IHT system, the allowances, what tax you might expect to pay and ways to mitigate your future tax obligations within the boundaries of current regulations. This is not tax evasion of any kind this is professional tax planning for the future to make use of the current regulations available.
The vast majority of people who pay IHT have not planned for their future, they have not planned for their death and the assets they leave behind. Click here to make a start today and ensure you do not leave your beneficiaries with major tax issues. |
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