When you achieve a certain status in life, it becomes important to ensure you’re leaving something behind for generations to come – and that means making sure your estate goes to whom and when you want it to. In doing so, it’s vital to construct your affairs so the taxes involved are minimised, thereby maximising the benefit for those you intend.
The inheritance tax (IHT) rules allow for no tax on transfers between spouses. Individuals have a nil rate band (currently £325,000) that can also be transferred between one spouse and another on death, and the government has relatively recently brought in an additional main residence nil rate band if you pass your home to your children or grandchildren that will rise to £175,000 by 2020/21.
IHT is complex. There are a range of exemptions and allowances that may or may not apply in certain circumstances and a variety of options to help mitigate any potential remaining tax liability.
At Dawn Slater Wealth Management, we’re expert in helping clients decide where, when and how they want to pass on their estates, and then putting plans into place to ensure that happens in the most tax efficient manner possible, taking into account individual and family circumstances.
Why not get in touch today by phone on 01635 551926 to find out more.
We would like to say that 'Until 2004 we managed our own investments but then saw in a daily newspaper that Dawn was 2nd in a competition for the UK's best female financial advisor. She was based near us and we went for an initial meeting where we found her very straightforward and informative. She has invested since in areas far beyond our limited expertise and has increased our portfolio and managed it to our entire satisfaction. We are worry free, trust her implicitly and it was the best financial decision we ever made. We are able to keep in good contact with her and we look on her as a friend as much as an advisor. We would feel genuinely lost without her.
Dawn started looking after my pension around 1990. A target was set for each year and I was supplied with an annual detailed review showing progress. She has always made herself available either on the phone, in person, or by email if there were any queries or just to chat about the overall state of play. I followed Dawn’s instructions over the years with the result that by 2012 pension funds had grown to target and I was able to take the pension earlier than predicted and it allowed me to work part-time. I value Dawn’s advice and she continues to steer my savings. Without her I feel I would not have had such a good result.
Thanks to Dawn Slater's invaluable, dedicated and totally reliable advice over several years I can quite simply say that I am more than happy to continue relying upon Dawn Slater Wealth Management to advise and invest for me.