The latest Inheritance Tax (IHT) statistics show an additional 4% was added to HM Revenue & Customs receipts compared to the previous year. IHT is a tax payable when you die. Whether your beneficiaries have to pay it, and how much they’ll pay, is based on the value of your estate.
Are you making use of this useful and much under-utilised exemption?
If you want to make inheritance gifts from surplus or excess income, there is a useful and much under-utilised exemption that allows gifts over and above the value of £3,000 per annum to be made without these gifts forming part of your estate if you die within seven years of making them.
Understanding your options and putting a plan in place
We spend our working lives building towards retirement. Choices we make today will have a big impact on the quality of our lives later on. If you only have a handful of years to go until you reach your retirement, it has never been more important to understand your options and put a plan in place – now could be a good time to re-evaluate your plans with us.
Having a financial plan in place early on can make it easier to manage your money further down the line. It’s never too early to make a financial plan. The sooner you work out your goals and start following a plan to achieve them, the more likely you are to succeed.
Protection should be a core part of your financial plan
If you are worried illness or injury could leave you without enough to pay bills, there are solutions to help protect your income. While some people could rely on state benefits as a safety net if they experienced a sudden loss of income, for many the drop in income would be too severe to maintain their standard of living.
Hall Financial Planning LLP is Authorised and Regulated by the Financial Conduct Authority.
Hall Financial Planning LLP is a Limited Liability Partnership registered in England & Wales OC346300 Registered Office: Oriel House, 22 William Smith Close, Churchill, Oxon, OX7 6QS
The material on the site is the copyright material of Hall Financial Planning LLP. You may not copy, reproduce, republish, disassemble, decompile, reverse engineer, download, post, broadcast, transmit, make available to the public, or otherwise use Hall Financial Planning LLP content in any way except for your own personal, non-commercial use. This includes but is not limited to all individual fund manager data such as rankings of fund managers and ratings of fund managers. Hall Financial Planning LLP does not accept any liability for your reliance upon, or any errors or omissions. Any other use of Hall Financial Planning LLP content requires the prior written permission of Hall Financial Planning LLP.