Money Minder UK

« Return to news section
Preserving your legacy

In Brief: Preserving your legacy

Wednesday, 29 April 2020

If the worst should happen, are you financially prepared? Leaving an inheritance could mean your loved ones have to pay tax. Some inheritors are exempt from Inheritance Tax (IHT), however others are not. Proper IHT planning could help save your family hundreds of thousands of pounds. The Government charges tax on your estate, 40% is on assets within your estate that exceed the nil-rate band threshold (currently at £325,000) and is payable on assets that are passed on when you die. Seeking professional financial advice could help you to manage your plans for inheritance.

Full article »

« Return to news section
Please be aware these articles are for general information purposes only and correct at time of printing. We will not accept responsibility for any errors made or actions taken by any readers that have acted on the information contained. Answers given are for guidance only and specific advice should be taken before acting on any of the suggestions made. All information is based on our understanding of current tax practices, which are subject to change. Always remember when investing, past performance is not necessarily a guide to future performance and the value of some investment units can fall as well as rise.