I just saved a client over £136,000 in inheritance tax!!
How cool is that?!?!
A little over 7 years ago I met a wonderful lady and her family and together we put in place some measures to save her beneficiaries from having to pay lots of inheritance tax, should she die.
Now that it is over 7 years later, our plans have now taken their course and rather than a bill from HMRC for over £136,000 if she were to die, her beneficiaries get to keep all of that money for themselves!!
I am so excited about this as this is a big part of my job – making sure that my clients’ money works as hard as it can for my clients, rather than for anyone else.
Did you know that your beneficiaries will have to pay 40% tax on anything that you own that goes over the inheritance tax allowance, which is currently set at £325,000?
Therefore if you are a married couple, you have £650,000 between the two of you, which could well be used up by your house. Do you want your children or other beneficiaries to have to pay away some of the money, that you’ve worked hard to save, to HMRC or would you like them to keep it for themselves?
Maybe you have parents or in laws or haven’t thought about this yet, but should be looking at ways to reduce this risk.
Contact us today as we’d love to hear from you, find out what your potential inheritance bill is and see how we can reduce it.
