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Tax Tip

Inheritance Tax What it could mean to YOU 22/06/11

The current level of the Inheritance Tax nil rate band is £325,000, this includes your house (or houses) Business, any savings and investments, life assurance policies or other assets.

 

At ABDS we often get asked the same questions:

 

  • Will my beneficiaries have to pay tax when I die?
  • Will my house have to be sold?
  • Can I reduce the tax liability on my death?
  • When is the best time to start?

 

Inheritance Tax can catch many people unaware at a time when it is often too late to do anything about it. So the earlier that you start to plan to either reduce the tax liability, or preferably avoid it altogether, the easier it is to deal with.

 

We can help you implement a series of strategies (a personal plan) which will enable you to continue to provide an income from a capital sum whilst also taking steps to protect the capital from Inheritance Tax.

 

If you need any help and advice on Inheritance tax or capital gains Tax, don’t hesitate, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your financial planning.

 

ABDS of Southampton, for all of your Tax Planning, Compliance and Tax Returns.

 

Tel: 023 8083 6900          E-mail: abds.marketing@netaccountants.net

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