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Wills & Estate Planning What is inheritance tax planning? At its simplest, inheritance tax is the tax payable on your estate when you die if the value of your estate exceeds a certain amount. Currently, inheritance tax is charged at 40% on the value of estates above the threshold (nil-rate band) of £300,000, subject to any exemptions and reliefs that may be available. Your estate is basically the net value of everything you own - all your assets minus any debts. Why do you need to plan? Doing nothing is not an option. Without proper tax planning, many people can end up leaving a substantial tax liability on their death, considerably reducing the value of the estate passing to chosen beneficiaries. Kingfishers has helped customers plan their estates efficiently for many years. Our dedicated specialists can review your financial position and offer expert advice on your options. Transfer of equity Severance of joint tenancy Elderly clients |
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