Tax - Inheritance Tax and Capital Gains Tax
Although we can advise generally about tax our specialist areas of advice relate to tax mitigation and tax avoidance of Inheritance Tax and Capital Gains Tax. There are measures that can be taken during a person’s lifetime to plan for a possible Inheritance tax charge on their estate and we can provide advice about lifetime planning including making gifts and trusts.
The Inheritance Tax nil-rate band is currently £325,000 and if your estate is near or above this level then we would suggest that you seek advice about possible tax planning measures. If a person dies without taking these measures then in some situations there are things that can be done to alleviate the tax burden, such as the use of Deeds of Variation and we can advise you depending on the specific circumstances.
Where you are considering the disposal of an asset, whether it is by gift, sale or as a transfer into trust then we can advise you on the possible Capital Gains Tax implications.