UK Tax Planning
Inheritance tax planning is an important part of our private client team’s work and all our team can advise you how to reduce your estate for inheritance tax planning by using available reliefs and exemptions, such as the charitable exemption, the spouse exemption, business property and agricultural property relief on death and the lifetime e exemptions such as the annual exemption, small gifts exemption, the marriage exemption and normal expenditure out of income. Our private client team is also experience in minimising inheritance tax on probates by claiming quick succession relief, substituting sale proceeds for probate value in certain cases and advising on deeds of variation, particularly to secure the reduced inheritance tax rate when more than 10% of the estate is given to charity.
- More complicated areas of inheritance tax such as giving the family home to the next generation and the taxation of trusts;
- the creation of trusts for vulnerable persons particularly of personal injury awards
- the pre-owned asset charge;
- Double dipping Wills so business property and agricultural property relief can be used twice;
- Capital gains tax planning including the availability of reliefs such as principal private residence relief;
- Succession planning for family shareholders and the sale of private company shares;
- Advising on professional negligence in tax advisory matters.