Inheritance Tax Planning

There are a number of measures that you can adopt to mitigate the potential I.H.T. bill your Estate may face when you die. Opposite are a few of the notable examples...

In 2004 the Government introduced anti-avoidance legislation known as Pre-Owned Asset Tax (POAT). It is axiomatic that prior to detailed examination, any Scheme or Trust under consideration must be POAT compliant to avoid this liability.

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The FSA does not regulate Inheritance Tax
Inheritance tax rates and legislation are subject to change

• The use of a Discretionary Trust may allow the surviving spouse the full benefit and enjoyment of the home whilst still preserving this major family asset for the benefit of children or loved ones.
  
  
• Consider lifetime gifts and the use of Lifetime Trusts.
  
  
• Consider holding shares listed on The Alternative Investment Market: after 2 years these can pass I.H.T. free on death. (These investments may not be appropriate for everyone.)
  
  
• Life cover can be written in Trust for I.H.T. purposes, removing the eventual value of the life cover from the Estate. It is a simple process and could save thousands of pounds.
  
  
• Utilise all other exemptions offered by the Government.