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Torevell Dent Halifax Accountants

Personal Services

Inheritance tax planning

Few of us like to think about dying, but equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us. Torevell Dent Halifax Accountants can assist you in making effective preparations of your estate.

The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. Since none of us knows when we shall die, this means making the necessary provisions now.

The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby maximising the amount that goes to your beneficiaries. Nothing is more demoralising than the thought that a substantial slice of the wealth you have worked hard to accumulate will end up in the Government’s coffers!

You can maximise on inheritance tax relief and exemptions if your estate may be worth more than the threshold (which currently stands at £325,000) if you plan ahead.

It is equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse in your later years. Striking this balance calls for considerable skill and foresight – and a detailed knowledge of the tax regime.

We provide a discreet estate planning service that includes:

  • Help with drawing up and reviewing your will
  • Making full use of exemptions and lower tax rates on lifetime transfers
  • Optimising lifetime transfers between spouses
  • Transferring agricultural or business property
  • Transferring assets into trust
  • Arranging adequate life assurance to cover potential inheritance tax liabilities

Begin your estate planning right away by contacting us for a preliminary review.