Inheritance Tax Planning
Having worked hard all your life to build up a certain level of money and assets, how would you feel if the Taxman was to take 40% of the inheritance you plan to leave loved ones?
This level of Inheritance Tax could apply if your estate’s value is above the £325,000 threshold (£650,000 if married or in a civil partnership). What’s more, your chosen beneficiaries may have to pay that tax bill before they can inherit what you want them to have.
When you add up the value of your estate – which includes your property, car, jewellery, savings and investments – you might be surprised by how much it’s worth. In addition, future price rises could push your estate’s value over the Inheritance Tax threshold if it isn’t already.
The good news is there are steps you can take to reduce or even fully eliminate your Inheritance Tax liability – while in many cases retaining full control of your estate. SFS offers an Inheritance Tax Review Service, which includes helping you to determine if you have an existing or potential future liability. They can then offer advice on the different ways you could address this issue, so you can ensure your loved ones ultimately receive everything you want them to have. SFS's no-obligation service means it won't cost you anything until you decide to proceed with the SFS Adviser's recommendations.
To find out more about Skipton Financial Services please call Skipton Direct on 0845 603 4735*† or visit your local branch.
Many of the products available from SFS are not like building society/bank deposit accounts, as the capital value and any income can rise and fall and your capital is at risk. The tax treatment of any investments depends on your individual circumstances and may be subject to change in the future.
Authorised and regulated by the Financial Services Authority under registration number 100013, Skipton Financial Services Limited is a wholly owned subsidiary of Skipton Building Society