When it comes to inheritance tax planning, the sooner you do it, the better. If you delay making plans for a number of years, your options could potentially be reduced, and costs could be increased. For example, making a gift to a beneficiary could potentially reduce or eliminate your IHT bill. However, you have to survive a minimum of seven years for this to take full effect, otherwise IHT may be payable on the gift.
Act now by getting in touch with our team here in Shrewsbury to discuss Inheritance Tax Planning.