Services for personal clients
Capital gains tax and inheritance
tax planning
If you have worked hard to build up assets to give you financial security
in retirement - and financial peace of mind for the people you care about
when you are no longer around - seeking professional, expert advice is
essential.
Changes in 2007 to the inheritance tax (IHT) regime have benefited many
people who faced heavy IHT bills as a result of rising property prices,
but careful planning and a tax-efficient will remain the best ways to ensure
that your family, not the taxman, inherits on your death.
Our expert team can advise on all aspects of inheritance tax and capital
gains tax (CGT), to minimise your liabilities.
Capital gains tax is charged whenever you dispose of an asset, whether
this is through a sale or a gift, CGT planning is particularly important
in the light of new measures effective from 6 April 2008, including the
abolition of taper relief and indexation allowances, which have historically
reduced the tax liability on business and on non-business assets.
From 6 April 2008, a flat rate 18 per cent tax rate applies to all assets
although a new “entrepreneurs’ relief” of ten per cent
rate applies to lifetime gains of up to £1 million for businesses
and certain share-holdings.
Our team of tax specialists have an in-depth understanding of the complex
rules around inheritance tax and CGT and can provide solutions tailored
to suit each client’s individual circumstances, which can range from
the straightforward to the highly complex. We can advise on issues including:
- drafting a tax-efficient will
- gifting assets
- pre and post-death tax planning
- using available allowances, exemptions and reliefs to maximum benefit
- using capital losses to mitigate tax on gains elsewhere
- using inheritance tax-efficient investments
- using trusts to mitigate tax
For more information on how we can help you, please contact
us.
