A gentleman with a large amount of money, held in an investment account and ISAs, wanted to make sure he’d leave as much as possible to his family when he died, rather than a large inheritance tax bill.
We looked at the numbers
He had a large amount of savings, but the money wasn’t in the best place for minimising his inheritance tax risk or being tax efficient when he died.
Our proposed financial plan
We recommended transferring some of the money to an investment that qualified for Business Property Relief, and the rest into a Trust for his family.
Before & After
The graph shows his Inheritance Tax liability over time.
Before – leaving his money in the current investments and ISAs
After – moving his money to the proposed tax efficient investment and Trust
Outcome – So, has he reduced his family’s INHERITANCE TAX liability?
Yes. By making the changes we suggested, he has significantly (and legally, of course) reduced the amount of money his family will have to pay in inheritance tax. Now more of his money will go to the people he loves, rather than the tax man.
HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.
What if something happens to me, will my partner be OK?