Inheritance Tax Planning in Mose

Get in touch

Inheritance Tax Advice in Mose

Inheritance Tax (IHT) planning is crucial to managing your estate effectively and ensuring that your loved ones benefit from your assets after your death.

The Tax Advisors, a professional and affordable group of tax accountants based in the UK, are here to guide you through the complexities of inheritance tax, helping you to minimise liabilities and maximise the value passed on to your beneficiaries.

Get in touch

What is Inheritance Tax?

Inheritance Tax (IHT) is a tax on the estate of a deceased person, including property, money, and possessions. In the UK, the current standard IHT rate is 40%, which is charged on the portion of the estate that exceeds the £325,000 threshold, known as the nil-rate band. However, with proper planning, the amount of inheritance tax payable can be reduced or even eliminated.

Why is Inheritance Tax Planning Important?

Inheritance tax planning is essential because it allows you to:

  • Minimise Tax Liability: Effective planning can reduce the inheritance tax your estate will have to pay.

  • Maximise the Estate Passed to Beneficiaries: By minimising tax liability, more of your assets will go to your loved ones rather than the taxman.

  • Ensure Peace of Mind: Knowing that your estate is structured most tax-efficiently provides peace of mind for you and your beneficiaries.

Get in touch

How Can Tax Advisors Help?

At The Tax Advisors, we understand that every estate is unique, including every family's financial situation. Our team of experienced tax accountants will work closely with you to develop a personalised inheritance tax plan that meets your needs. Here’s how we can assist:

1. Understanding Your Estate

We begin by thoroughly reviewing your estate to understand its value and potential IHT liabilities. This includes:

  • Assessing the value of your assets, including property, investments, and personal possessions.

  • Identifying any existing debts or liabilities that may reduce the overall value of your estate.

2. Utilising Reliefs and Exemptions

The UK tax system offers various reliefs and exemptions that can reduce the amount of IHT payable. The Tax Advisors will help you take full advantage of these, including:

  • Nil-Rate Band and Residence Nil-Rate Band: We ensure you fully utilise your £325,000 nil-rate band and, where applicable, the residence nil-rate band (currently up to £175,000).

  • Gifting: We advise on the tax-efficient use of gifting to reduce the size of your estate, including the annual exemption (£3,000), wedding gifts, and regular gifts out of income.

  • Business and Agricultural Reliefs: If you own a business or agricultural property, you may be eligible for significant reliefs, which we will help you claim.

3. Setting Up Trusts

Trusts can be a powerful tool in inheritance tax planning. The Tax Advisors can guide you in setting up trusts to:

  • Protect assets from IHT.

  • Ensure that your assets are distributed according to your wishes.

  • Provide for vulnerable beneficiaries without affecting their entitlement to means-tested benefits.

4. Reviewing and Updating Your Will

A well-drafted will is essential for effective inheritance tax planning. We can assist you in:

  • Drafting or updating your will to reflect your current wishes.

  • Ensuring that your will is tax-efficient and takes advantage of available reliefs.

  • Appointing executors who understand your IHT plan and can implement it effectively.

5. Long-Term Planning and Regular Reviews

Inheritance tax planning is not a one-time task; it requires ongoing attention. As your circumstances change, so should your IHT plan. The Tax Advisors offer:

  • Regular Reviews: We will review your estate plan periodically to ensure it aligns with your wishes and current tax laws.

  • Long-Term Strategies: We help you develop long-term strategies to mitigate IHT, including life insurance policies written in trust to cover potential tax liabilities.

Frequently Asked Questions (FAQs) About UK Inheritance Tax

1. What is the inheritance tax threshold in the UK?

The current IHT threshold is £325,000. Any estate value above this threshold is subject to a 40% tax rate.

2. Can I reduce my inheritance tax liability through gifting?

Yes, gifting is one way to reduce the value of your estate and, therefore, your IHT liability. However, certain rules apply, such as the seven-year rule for larger gifts.

3. How does the residence nil-rate band work?

The residence nil-rate band allows an additional IHT-free allowance (up to £175,000) when you pass on your primary residence to direct descendants.

4. Are there any exemptions from inheritance tax?

Several exemptions can apply, including spouse or civil partner exemption, charitable donations, and business or agricultural property reliefs.

Conclusion

Inheritance tax planning in WV15 6 is an essential aspect of managing your estate, and with the help of The Tax Advisors, you can ensure that your assets are passed on to your loved ones in the most tax-efficient manner.

Our professional, affordable services are designed to give you peace of mind, knowing that your inheritance tax plan is in capable hands.

Contact The Tax Advisors today to discuss how we can assist you in securing your family’s financial future.

Get in touch

We cover Mose (Shropshire)

Get in touch

We aim to get back to you in 1 working day.


Skip to

Gallery

Other locations available for inheritance tax planning
Cruckmeole Osbaston Ball Donnington Wood Pentreheyling Whettleton Westoncommon Snailbeach Broughton Coreley Clun Duxmoor Stafford Park Bromley Worthen Rhiews Nox Longdon on Tern Webscott Prees Green Atcham Down, The Ruewood Marshbrook Silvington Shotatton Bicton Heath Burford Muxton Brynore Newstreet Lane Merrington Cabin Trefonen The Quarry The Marsh Hollyhurst Abbey Green Asterton Admaston Coalmoor Coppicegate Upper Dinchope Yorton Haughton Yorton Heath Porthill All Stretton Snittongate Ketley Bank Walcot Crowgreaves Preesgweene Uckington Ruckley Kingsnordley Malinslee Little Stretton Whitehaven Ightfield Heath Cross Morville Heath Bettws-y-crwyn Dryton Yockleton Lower Hayton Poolhead Linley Hints Ironbridge Butlersbank Middleton Newnes Ashford Carbonell Hoptonbank Westhope Argoed Eyton St Martin's Leighton Preston Morda Soudley Norton Darliston Twitchen Mickley Wistanstow Cefn Einion Woolstaston Coundmoor Melverley Howle Prees Wood Nether Skyborry Leigh Cockshutt Balmer Stanley Dudleston Heath (Criftins) Madeley Woodside Glynmorlas Weston Llanyblodwel Green, The Wixhill Brockton Frodesley Shawbank Lawley Newton on the Hill Forton Heath Badger Stowe Rhosygadfa Hillside Clungunford Linley Adeney High Green Lighteach Hollinwood Upton Magna Astley Abbotts Preston Montford Lyneal Mill Great Ness Aqueduct Waterloo New Works Coptiviney Brandwood Goldstone Tilsop Leegomery Conquermoor Heath Highley Lee Brockhurst Park Hall Llanfair Waterdine Folley Prees Lower Heath Wollerton Wood Angelbank Bryn Heath Lanes Kingsland Quabbs Rodway Shorthill Lushcott Lyneal Wood Eyton Handless Cruckton Burcote Bolas Heath Cheney Longville Chorley Roden Halesfield Little Soudley Morville Oteley Long Common Paddolgreen Booleybank Bromley Church Preen Lightwood Hadnall Kemberton Upper Cound Winnington Green Little Drayton Harnage Shelderton Brookhampton Hollinswood Henley Hope Park Upper Aston Woodhill Peatonstrand Lower Beobridge Barnsley Ellesmere Glan-yr-afon Whixall Sleap Moreton Say Billingsley Prees Higher Heath Pedlar's Rest Ebreywood Hopton Wafers Basford Eaton Condover Wolverton Church Aston Tweedale Middleton Cwm Redhill Neenton Creamore Bank Pulverbatch Church Pulverbatch Aston Sq Preston upon the Weald Moors Saltershill Quina Brook Selattyn Telford Stretton Westwood Ditton Priors Hughley Stockton Hortonlane Stokesay Crosslanes Ashbrook Rushton Coton Hill Ale Oak Broadoak Anchor Redwith Upton Cressett Welsh End Brookrow Vennington Edgmond Clunton Little Worthen Peaton Upper Ludstone Lythbank Cockshutford Hook-a-gate Ifton Heath Oreton Bulthy Lea Dobson's Bridge Muckleton Chesterton Newtown Little Ryton Henlle Grove, The Nefod Cheswardine Rodington Heath Shackerley Gadlas Purlogue Lower Dinchope Colemore Green Sheet Hodnet Doseley Lydham Picklescott Horsehay Wellington Upper College Clive Greenhill Bank Lane's End Little Wytheford Ludlow Homer Stokegorse Longnor Dudleston New Woodhouses Longnor Park Loughton Mount Pleasant Ruthall Rosehill Astley Ollerton Broadstone Sleapford Plowden Prees Heath Foxholes, The Plealey High Hatton Northwood Crateford Bletchley Leath, The Callaughton Broad Oak Bache Beckjay Oldington Upper Treverward Comley Blackoe Lower Ledwyche Bitterley Hopton Sytch Lane Halford Stoneacton Poynton Stanlow Lubberland Shifnal Abdon Hill Houses Kynaston Long Lane Chapel Lawn Wyke Arscott Maesbury Marsh Meadowtown Crickheath Hopton Cangeford Bryn-y-cochin Pentre Ponthen Nib Heath Middlehope Cross Houses Stockton Elson Cherry Orchard Lyde Market Drayton Lightmoor The Wood Caynham Arleston Linleygreen Nant y Caws Hope Sandford Grafton Maesbury Lynchgate Weston Lower Ridge Albrighton Jackfield Berwick Wharf Sutton Bucknell Wolverley Red Lake Welsh Frankton Wigmarsh Vernolds Common Bulkeley Hall Churchtown Lockleywood Beobridge Bagley Marsh Deuxhill Little Ness Sutton Bridges Linley Brook Brandhill Lynn Pixley Easthope Steventon The Rock Lady Halton Islington Platt Lane Rodington Town Centre Eudon Burnell Brockton Wood Lane The Hem Quatt Walford Heath Ryebank Woore Hope Bowdler Longford Wollaston Pinstones Upper Battlefield Hopstone The Nook Ladyoak Meeson Brownheath Bronygarth Blackmore Pitchford Sutton Culmington Hopesay Pennerley Aldon Wotherton Meole Brace Habberley Chelmick Wigginton Gravenhunger Moss Stoke on Tern Ridgway New Marton Wheathall Pen-y-coed Lee Weston Rhyn Noneley Bings Heath Oaks Walton Withington Edgerley Dovaston Pen-y-Bryn Oldbury Lower Forge Obley Marsh Green Stapleton Spurtree Etsell Stoke Heath Mardu Six Ashes Chelmarsh Nordley Much Wenlock Great Bolas Tilley Green Hadley Eaton Tilstock Barrow Cleemarsh Eaton upon Tern Balmer Heath Woodseaves Kinton Birtley Hampton Old Woodhouses Mynd Bowbrook Gatacre Park Wern ddu Acton Reynald Stanton upon Hine Heath Aston Eyre Wilcott Marsh Ludford Yeld, The Aston Munslow Pickstock Stanton Lacy Upper Hengoed St Martin's Moor Chatford Underdale Horton Hemford Sambrook English Frankton Upper Affcot Treflach Lower Netchwood Craignant Spunhill Wheathill Myddlewood Eaton Constantine Radlith Allscott Beambridge Overs Rorrington Hodnetheath Tugford Kynnersley Alcaston Clunbury Montford Waters Upton Tuckhill Wollerton Monkmoor Oswestry/Croeswallt Rudge Heath Ternhill Morton Common Ashfield Holdgate Crackleybank Bearstone Lower Frankton Rednal Stanmore Weston Heath Croesau Bach Brownhills Porth-y-waen Ragdon Hindford Buildwas Dunnsheath Pontesford Ollerton Lane Hartlebury Reabrook Mile Oak Moretonwood Little Lyth Cardeston Broome Isombridge Cheswell Corner, The Ellerdine Heath Styche Hall Mainstone Grimpo Hanwood Bank Heathton Causewaywood Batchcott Whatmore Ash Magna Woofferton Wilcott Blists Hill Baschurch Barkers Green Waymills Pipe Gate Abcott Crosemere Spoonleygate Burwarton Cantlop Kenwick Park Upper Astley Longslow Farley Crickheath Wharf Ploxgreen Oakengates Hopesgate Whitcott Keysett Pentirvin Kingslow Adderley Malehurst Newington Upper Longwood Tarts Hill Church Stretton Bishop's Castle Strefford Leebotwood Lea Priors Halton Birdsgreen Newtown Fron Chadwell Wootton Sibdon Carwood Eyton upon the Weald Moors Dawley Bank Eudon George Mytton Weston Doddington Knolton Sandford Ellerton Wall under Heywood Uffington Onibury Milson Standford Bridge Horsebridge Leaton The Wyke Lipley Wykey Boraston Dale Ash Parva Bagley Westbury Grinshill Atterley The Sydnall Stanford Chavel Ensdon New Invention Westcott Gore, The Alderton Burlton Exfords Green Osbaston Colebatch Great Sutton Norton in Hales Bourton Bedstone Underton Cleeton St Mary Shrewsbury Stirchley Ford Heath Fitz Ightfield Shoot Hill Radmoor Betton Strange Cockshutt Cleobury North Cluddley Hallonsford Heath Hill Sheriffhales Upper Wigginton Hilton Nesscliffe Eardiston Neen Savage Knockin Heath Plaish Shakeford Snedshill Hatton Ashford Bowdler Gravels Stockton Bayston Hill Purslow Hinton Claverley Dudleston Grove Willstone Babbinswood Cross Lane Head Littlegain Leaton Heath Neen Sollars Broughall Seifton Spring Gdns Bentlawnt Bache Mill Ashfields Butlane Head Papermill Bank Hampton Bank Shipton Harlescott Hobbins, The Ditherington Upper Netchwood Crickmery Felton Butler Longden Common Leamoor Common Hinstock Walton Pentre-cefn Grindley Brook Honnington Chirk Bank Bog, The Newtown Sutton Maddock Gledrid Buttonbridge Commonwood Bratton Little Dawley East Wall Randlay Chirbury Rhyd-y-cwm Preston Brockhurst Tetchill Bushmoor Bluebell Rockgreen Hopton Castle Hayton's Bent More Sytch Ho Green The Humbers Bowling Green Wooton Broseley Corfton Bache Priest Weston Hinwood Prees Hartsgreen The Nook Brockton Ruyton-XI-Towns Garmston Dothill Newton Glazeley Bouldon Breaden Heath Llwyn Titterhill Norton Apley Forge Upper Forge Willaston Chetton Horton Inwood Crowsnest Lower Hordley Bicton Alveley Rhoswiel Hampton Loade Middleton Priors Castlegreen Medlicott Knowlegate Steeraway Knowle Sands Bromfield Hallon Nobold St George's Wrentnall The Waterwheel Chemistry The Wood Asterley Cold Hatton Calverhall Whitton Ratlinghope Coundlane Aston Milford Pontesbury Hill Haybridge Longford Crudgington Priorslee Woolston Wettles Totterton Wall Bank Woodside Cleedownton Cotwall Pentre Hodre Weirbrook Old Marton Gravelhill Sutton Tasley Stoke St Milborough Pant Hampton Beech Cleehill Woodcote Catstree Shipley Kenley Gobowen Daywall Wern Oldfield Pont-Faen Felhampton Argoed Haston Hengoed Edge Poynton Green Town Park Farden Overton Renshaw Wood Bromlow The Four Alls Longville in the Dale Lower Allscott Broad Lanes Mardy Pen-y-wern Farlow Rhyn Acton West Felton Ladywood Nash Low Town Brownhill The Common Rhydycroesau Ketley Little Brampton Stiperstones Mondaytown Three Ashes Dallicott Pentiken Haygate Smethcott Rowton Hungerford Rudge Coton Eardington Shrawardine Stoney Stretton Burley Cound Donnington Wooton Elbridge Shawbury Stanton Long Nedge Hill Bridgnorth Bromdon Lilyhurst Corfton Coalbrookdale Bankshead Hortonwood Chetwynd Aston Woodbank Brooklands Lydbury North Great Wytheford Long Oak Henley Summerhill Rindleford Cherrington Acton Pigott Westley Maesbrook Forton Lower Common Duffryn Snitton Munslow Myndtown Hatton Grange Woundale Marchamley Wood Pentre-newydd Kinnerley Ladywell Upper Farmcote High Ercall Knockin Haughton Tong Forge Netherton Llwyn-y-go Prescott Lowe Lawton Street Dinas Morton Buttonoak Marton Bagginswood Wem Acton Burnell Middleton Baggot Grove, The Sutton Hall Hope, The Whiston Cross Harmer Hill Higher Ridge Hanwood Puleston Wagbeach Bilmarsh Woodlane Acton Scott Ticklerton Kinlet Sutton Hill Llawnt Marchamley Coed y go Hordley Preston Gubbals Wattlesborough Heath Old Coppice Perthy Whitcot Rockhill Whittingslow Battlefield Draycott Newcastle Harton Aston Grindle Hoptongate Rushbury Moreton Corbet Plasau Acton Round Bourton Westwood Madeleywood Chipnall Childs Ercall Shawbirch Lyneal Whittington Old Field Gwern y brenin Gravelsbank Somerwood Darley Burwood Hamperley Rhewl Waterside Brookside Stoneylane Lower Faintree Little Sutton Lodgebank Brockton Whitchurch Mose Cross Green Whittytree Aston on Clun Haughton Leaton Meeson Heath Kempton Shelve Newbridge Twyford Broomfields Blackford Wroxeter Cleobury Mortimer Bradney Easthopewood Smithies, The Castle Fields Tedsmore Lostford Prescott Cobscot Rowton Queen's Head Gretton Stanwardine in the Fields Ryton Broome Cardington Montford Bridge Huntington Stanley Newport Charlton Turfmoor Copthorne Hope Bagot Benthall Stocktonwood Enchmarsh Haybridge Berrington Stableford Dorrington Cotonwood Cwm Head Shirlett Knowle Fenn Green Upper Hayton Great Lyth Shelton Cornbrook Broncroft Lightwood Lilleshall Patton Crumpsbrook Hadley Castle Hawgreen Wootton Skyborry Green Wyken Gronwen Albrighton Clee St Margaret Calcott Hollywaste Derrington Minton Middleton Scriven Hazler Donnington Aston Botterell Knowbury Old Park Donington Posenhall Norton Duddlewick Hifnal Minsterley Hobarris Alberbury Edgebolton Willey Halfway House Betton Sascott Aston Pigott Belle Vue Llanllwyd Morton Mill Hollins Lane Walford Mill Green Muckley Cross Cold Hatton Heath Churchbank Norbury Diddlebury Ackleton Lower Down Myddle Harley Pentre Edstaston Pulley Kenwick Valeswood Worfield Trench Sidbury Tyn-y-coed Farley Pentre-coed Muckley Edgmond Marsh Stottesdon Rowley Long Meadowend Monkhopton Greete Bomere Heath Gravel Hole Meadowley High Town Beckbury Llynclys Nantmawr Presthope Rushmoor Pant-glas Choulton Melverley Green Moortown Petton Wistanswick Tong Walkmills Edgton Ellerdine Alkington Pentre-clawdd High Heath Little Wenlock Eaton Mascott Roughton Westonwharf Fauls Pontesbury Weston Lullingfields Little Common Welshampton Soudley Moston Eyton on Severn Quatford Emstrey Cleestanton Vron Gate Round Oak Turleygreen Tilley Foxwood Dawley Craig-llwyn Pentre Cross Houses Wrockwardine Wood Steel Heath Sansaw Heath Stanley Green Lower Hopton Longden Pave Lane Nant-y-gollen Romsley Betchcott Colemere Marton Heathcote Cressage Ludstone Dhustone Sheinton Uppington Downton Aston Rogers Great Ryton Haughton Wombridge Besford Woolston Preeshenlle Ford Loppington Allscott Tibberton Crossgreen Hillend Stanwardine in the Wood Wrockwardine Wernlas Tong Norton Bicton Wrickton Brompton Little London Walkmill Frankwell Craven Arms Sodylt Bank Danesford Ireland's Cross Newton Coalport Boraston Yeaton Hardwick Wentnor Annscroft Hungryhatton Redhill Churchmoor Rough Weston Brockton Farmcote