When planning your estate for the future it is important to take into account the impact Inheritance Tax may have on your possessions and property. Your estate may be subject to Inheritance Tax depending on its value, at P.A. Duffy and Company we can help to mitigate your losses and ensure the beneficiaries of your estate will receive what you intended.
How we can help
- The initial £325,000 of your estate will not be subject to any Inheritance Tax, however, the rate of tax is 40% for any excess of your estate which goes beyond this threshold.
- Our experienced solicitors can advise you on various ways in which you can gain relief from Inheritance Tax in order to maximise what remains of your estate.
- For example, transfers of money between spouses and civil partners and gifts to charity are both exempt from Inheritance Tax. We will help you to draft your will in a way that is advantageous to your specific circumstances.