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Tax & Estate Planning

“In this world, nothing can be said to be certain, except death and taxes”
Benjamin Franklin 1789

There isn’t much that can be done about the former, however Greenfields Financial Management can help when it comes to taxation.

Research has shown that as many as 30 million people are paying too much tax. More than £5bn, or around 5% of HMRC’s expected income, could have been saved if people had arranged their affairs more efficiently.

We can offer advice on matters ranging from simple tax-free savings for children to tax strategies when you make your will.

Inheritance Tax (IHT) is charged to your estate upon your death although, in certain circumstances, it can be charged during your lifetime.  Contrary to popular belief, there are currently two rates at which IHT is charged to your estate on death; the lower rate is 0%, the higher rate is 40%. The top rate is charged on the value of your estate above what is known as the “nil-rate band” at the time of death.

There are opportunities to legitimately reduce the potential liability to inheritance tax.

Unfortunately, inheritance tax is increasingly becoming a concern for many people and not just wealthy landowners or superstars as may have previously been the case. The value of our homes now means that IHT is, more often than not, a consideration for us all.

With careful planning Greenfields Financial Management can help guide you through the complexities of inheritance tax planning. Reducing your potential liability doesn’t necessarily mean giving all your money away or involve setting up expensive and complicated offshore trusts.

With good financial advice AND planning ahead, there are a number of ways to reduce your Inheritance Tax liability, such as: –

The financial conduct authority does not regulate estate planning.