Even though London house prices are currently falling a little, the average price of a modest apartment can be substantial. HMRC has set the threshold for inheritance tax at £325,000 for an individual in the 2019-20 tax year, with an additional £150,000 bringing the total to £475,000 in the case where a main residence is being passed to a direct descendent*.
So, if like most people, you just hate the thought of being taxed in life and death, it is time for you to seriously consider an inheritance tax adviser in London.
Statistically, HMRC has reported earnings of more than £5 billion over the past few years from people who have been caught off-guard. So, if you want your children to enjoy the fruits of your labours rather than experiencing the heartache of seeing a significant percentage of their inheritance disappear in taxation, a little advanced planning can help to manage this situation.
How we can help
Castell Wealth Management is a Senior Partner Practice of multi award winning St. James's Place Wealth Management. Castell Wealth Management provides a comprehensive range of financial advice, including inheritance tax, in London.
At Castell Wealth Management, we value and respect our clients as individuals. We believe in face to face consultations. An appointed personal adviser will take you step-by-step through the whole process of protecting as much of your wealth as possible, keeping the maximum amount safely in the hands of your family upon your passing.
Covering a wide range of tasks in accordance with your wishes, with examples including making lifetime gifts to friends, family or charities and creating trust funds, we will help you to minimise the impact of inheritance tax on what’s yours. We can even look at your pensions to see whether any changes may serve to mitigate the inheritance tax liability. Sounds complex? It really needn’t be because your personal adviser will be at hand to explain and make things simple for you, enabling you to relax and enjoy the more important things in life.
Due to our belief in building trust and long-term relationships with our clients, we can introduce you to Kings Court Trust, to offer a fully comprehensive service which includes estate management. It’s all about the immediate administrative details when someone dies - such as dealing with the Will, informing beneficiaries, even finding a home for your pet.
Come to us for inheritance tax advice in London. It is the first step you need to take. The sooner you start, the faster you’ll gain peace of mind and with early tax planning, you can enjoy the peace of mind of knowing that you will have left your loved ones in the best possible position.
*Where the estate is under £2millon
The level and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.
Trusts and Wills are not regulated by the Financial Conduct Authority.