To help mitigate or plan for inheritance tax, there are several options available, which include:
- Investment structures
- Life assurance
- Utilising reliefs and allowances
For most clients, a combination of these will be most appropriate.
Much of our inheritance tax planning includes flexibility to allow you to alter your plans, as our circumstances often change as we get older and legislation is subject to review, meaning it is important we continually evaluate the plans.
Inheritance tax planning can be something that you find yourself putting off to a later date, but by taking the time to plan now, your inheritance tax exposure could be reduced whilst still enjoying the fruits of your labour.