INHERITANCE TAX

Former chancellor Roy Jenkins famously described Inheritance Tax as: "a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue."

His statement still rings true. In 2019-20 IHT tax receipts received by HMRC was £5.2 billion.

It's never too early to take advice, especially if your estate is worth £1 million or more today.

 

SUCCESSION PLANNING

Whatever assets or wealth you have accumulated, you will have your own plan for how this legacy is shared with those you care about. Taking advice in this area ensures your affairs are structured in line with your plans and wishes. Not positioning your finances correctly can have unintended consequences, particularly if you have changed marital or civil partnership status and where children are involved.

 

YOUR LEGACY

We help you to design a plan according to your personal situation and needs. By using the correct allowances, exemptions and reliefs and by discussing the level of control you need during your lifetime, we can advise you on the best way to pass on your legacy and to ensure the timing of any gifts doesn't give rise to unecessary additional taxation. 

USING A TRUST

A trust is a legal arrangement that can help you to keep control of what happens to your assets after you die. You can specify when your beneficiaries can access the trust - for example, you might allow your children to access the trust when they turn 25. Trust assets don't normally form part of your estate, providing you live for seven years after placing them into the trust. We assess your trust options and advise you accordingly. 

The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested

 

Your home / property may be repossessed if you do not keep up repayments on your mortgage

Some buy-to-let mortgages are not regulated by the Financial Conduct Authority

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Financial Conduct Authority. Peter Holt Limited is registered in England. Registered Number 03761378

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