Trusts and inheritance tax

With the recent rise in property prices more people than ever are potentially exposed to inheritance tax (IHT). Proper planning can make sure your liability is reduced. And that means your beneficiaries profit, not the taxman.

Inheritance tax is payable on your estate when you die, if it exceeds a certain limit. Your estate is the net value of everything you own, minus any debts. Currently 40% of an estate above £312,000 goes to the taxman.

There are many ways to reduce your liability, one of which is the establishment of a trust. English trust law is very flexible – it means you can use a trust to make a gift to anyone of any age, decide when and how that gift is passed on, and take into account possible changes in circumstances.

Certain trusts have been specifically designed to reduce IHT. Your Barclays Financial Planning Manager can help you find the one that best meets your situation and objectives.

• Inheritance tax planning
• Estate planning service

• Important Information

  An essential part of successful estate planning is consideration of taxation implications around the transfer of your assets to your chosen beneficiaries either during lifetime or on death, ensuring that appropriate actions are taken to make best use of tax reliefs and allowances. These should be regularly reviewed to take fully into account any changes in those circumstances or in taxation or other relevant legislation.

With Barclays Financial Planning you get:

• Your situation analysed and appropriate action suggested to mitigate IHT liability.
• Full use made of exemptions and reliefs on lifetime transfers.
• Suitable trusts recommended.
• Life assurance policies arranged where appropriate to pay IHT.

For more information call 0800 587 2024 to book an appointment or request a call back.