Inheritance Tax Planning
Securing your family's future
We safeguard your wealth and preserve it for your loved ones in the most tax-efficient manner.
Inheritance tax (IHT) is a tax on the estate (property, money, and possessions) of someone who has died, and it can significantly impact what your family or other beneficiaries inherit.
At Michael Filiou, we understand that planning for the future of your estate can feel overwhelming. However, with property values rising, more families are finding themselves caught in the IHT net. Tailored IHT planning for your and your family’s situation is essential to protect your wealth and ensure your family benefits from the hard work you’ve put in.
We are here to help. Our expertise in IHT matters allows us to guide you through the complexities of this complicated area of tax so you can be assured that your loved ones will be cared for.
HERE FOR YOU AND YOUR FAMILY
With a deep understanding of the UK's tax laws, we aim to reduce the tax burden on your estate and help you pass on your wealth in the most tax-efficient way possible.
We approach all our IHT discussions and recommendations with empathy. We appreciate how sensitive this subject can be, so we work closely with you to create tax-saving strategies that you are comfortable with and will provide for your family as you had intended.
POSSIBLE IHT SOLUTIONS
Tailored IHT Strategies
We recognise that every family is unique. We develop bespoke IHT strategies for you and your family’s needs. We aim to reduce future tax liabilities by maximising the tax-free allowances and exemptions available to you. Our expert advice ensures that every step of your IHT and estate planning supports your financial goals.
Using Trusts for Wealth Protection
Trusts can be powerful tools for IHT planning, especially in cases of family businesses or valuable properties. Trusts let you control how and when your beneficiaries can access your assets. We advise on the best types of trusts for your circumstances and can set them up and administer them on your behalf. We explain everything and help you navigate the legal and tax implications of establishing one.
Reviewing and Updating Your Will
Your will is a crucial document when it comes to IHT planning. We will work with you to review your current will and make suggestions to ensure it is as tax efficient as possible. It is essential to update your will in the event of life-changing events such as marriage, having children, divorce, or the death of a beneficiary.
Lifetime Transfers and Gifting
Taking advantage of lifetime transfers and gifting can significantly reduce the size of your taxable estate. Whether it’s passing on wealth to family members or transferring property, we provide guidance on structuring gifts efficiently, so they remain within allowable limits while minimising tax exposure.
Business and Agricultural Property Relief
If you own a business or agricultural property, you may be eligible for reliefs that reduce your IHT exposure. We can review your situation and advise you on the availability of Business Relief and Agricultural Property Relief, ensuring you take full advantage of these tax-saving opportunities.
ACT NOW TO PRESERVE YOUR LEGACY
We have a long history of helping clients safeguard their wealth for future generations. Our team is experienced in all estate and IHT planning aspects and adopt a proactive and empathetic approach to your needs.
We recommend starting IHT planning as early as possible to take advantage of available allowances and exemptions. Our regular reviews help optimise your plan as tax laws and circumstances change.
Don't let IHT diminish the legacy you've worked so hard to build. At Michael Filiou, we help you navigate the complexities of IHT with clear, expert guidance so your wealth is maintained for your loved ones.
