Inheritance Tax (IHT) is a tax charge on any part of your estate that exceeds the inheritance tax threshold, called the nil rate band (NRB). This is currently £325,000 per person. Any part of the estate that exceeds the NRB threshold is usually subject to IHT on death at 40 per cent.
There is an additional Residential Nil Rate Band (RNRB) adding (by 2021) £175,000 to the NRB for home owners. This gives a total of £500,000 per person (home owner) that can be passed on free of IHT.
Your estate is a combination of your:
- Other assets, wherever in the world they are held
- Any gifts you give away in the seven years leading up to your death
We help our clients to identify steps they can make to reduce the amount that may be payable. With careful planning the tax liability on your estate could be minimised, so more of the assets can pass directly to those for whom they were intended, and there is less value reduction on the estate as a whole. There are several steps that can be taken, from making small lifetime gifts to setting aside money for people you care about whilst keeping some control.
Your investments may fall as well as rise and you may not get back what you put in
We provide financial planning to help our clients make informed decisions about money and establish what is important to them.
Inheritance Tax Planning
We help clients structure their assets to safely control succession and minimise tax.
Pension and Retirement Planning
The right solutions to best meet your retirement needs and requirements for income.
Annual Investment Review
We offer an annual Face-to-Face review of investments under management and the client’s situation.
Quarterly Rebalancing Service
We offer a portfolio review in which we construct, amend, provide commentary on and rebalance our clients’ investments.
Tax Efficient Investment
We help our clients to invest tax-efficiency, giving them the ability to make a choice suited to their knowledge and risk preferences.
There are a range of insurance and protection plans that can help cover you and your family in the event of ill health or early death.
Ethical funds are increasingly popular. More and more of our clients are placing greater emphasis on a socially responsible approach to investing.
Modern Money Financial Services Limited is authorised and regulated by the Financial Conduct Authority: 150571. Registered in England: No. 2459464. Directors: M Paine, L Edmunds
The Financial Conduct Authority does not regulate tax or estate planning
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK
© Modern Money Financial Services Ltd 2019