Select Page
Home / Inheritance Tax Planning

Inheritance Tax Planning

There are numerous ways to mitigate Inheritance Tax Planning (IHT), but we find that the majority of cases utilise a combination of the following:

Gifting
Whole of life
Loan Trust
Discounted Gift Trust
Reversionary Trust
Business Relief

There is much to be discussed, but the main issues of IHT planning fall in to 5 main headings…

Access – can you get to your capital if you need it.
Speed – how quickly can the plan effectively mitigate IHT.
Simple – Is the solution easy to understand and straight forward in terms of structure.
Control – Can you still control how and whether your capital is spent following the transaction.
Cost – How much is the plan going to cost over your lifetime.

Traffic light comparison

AccessSpeedSimpleControlCost
Gifting
Whole of Life
Loan Trust
Discounted Gift Trust
Flexible Reversionary Trust
Business Property Relief
How each of the solutions fare in relation to these issues is indicated above using a traffic light system; green being the most favourable.

Please note: this graphic is subjective to change, not every expert will agree on the distribution of colours. There is much more to know before you act and that you should always seek financial advice first.

Inheritance tax becomes due when you die…

If you have an estate, your assets will become taxable, and the amount owed will be calculated based on the value of your non-exempt assets. Inheritance tax planning is a legal process which enables you to protect and shield your assets to lower bills in the event of your death.

You may assume that it’s relatively easy to shelter your assets by gifting them to loved ones, but this is not always the case. When you think about your assets, and gifting them to others, several questions arise.

You may not know which of your assets you’ll need? How long you’ll need them for? And nobody knows what the future holds?

“In this world, nothing can be said to be certain, except death and taxes” Benjamin Franklin

“I’d like somebody to get rid of the death tax…. If I give something to my kid, I already paid the tax. Why should I have to pay it again” Whoopi Goldberg

Business Property Relief Schemes invest in assets that are high risk and can be difficult to sell such as shares in unlisted companies. The value of the investment can fall as well as rise and investors may not get back what they originally invested, even taking into account the tax benefits.

IHT Planning is best dealt with holistically, taking into account all of your finances and goals

We have many years of experience in advising clients across the country who wish to protect their estate, and we provide a tailored service for each individual. Our company is well qualified to answer questions and enable you to organise your assets.

Based in Devon

Verified client
They gave me their time to help choose the best options for me going forward and to help plan for down the line. I know I'm in good hands.

Based in London

Verified client
He has taken over from previous adviser and has provided an excellent service so far to try to ensure our long term financial goals can be met.

Based in Cumbria

Verified client
Ripley Wales Financial Planning have looked after our finances now for over ten years and we feel more than qualified, on that basis, to unreservedly recommend their services.

Based in Cambridgeshire

Verified client
They have managed my pension and income drawdown, keeping in touch regularly about decisions to be made, and making useful strategic suggestions.

Based in East Sussex

Verified client
They did a great assessment on risk and a gained a detailed understanding of my goals and set a course accordingly.

Based in London

Verified client
Managed all my affairs extremely well. Have also shown great patience and understanding in areas that I did not previously understand.

Based in Cornwall

Verified client
They showed me what was possible, what I needed to do to achieve this and a likely outcome. But also pointed out the possible high's and the low's.

Based in Devon

Verified client
They were very knowledgeable and professional without any awkwardness, I immediately felt relaxed and confident that they could assist me.

Based in London

Verified client
Consolidated my husband my pensions into a joint pension. Reviewed and advised on finances in future retirement.

Based in Hertfordshire

Verified client
Ripley Wales Financial Planning advised me on the best ways to protect my pension fund and how to plan for my desired future.

Based in Buckinghamshire

Verified client
They keep a keen interest in the performance of the investments within the pension and advise me when they think we should change anything.

Based in London

Verified client
Superb advice and support, giving us complete confidence that our financial planning is taken care of.

Based in Cornwall

Verified client
By looking at our personal situation and finances they started investing for us, by assessing our comfort levels for 'risk' and tailoring our investments.

If you have any questions or queries call us on: 0800 093 4115

Menu
0800 093 4115
Contact Us
0800 093 4115