When an individual passes away, liability of up to 40% of their estate may be payable to HM Revenue and Customs (HMRC). Currently, there is an individual tax exempt allowance of up to £325,000.
Nobody likes the idea of their family potentially losing up to 40% of their money in taxes, and therefore MRIB can help you to plan efficiently for the future, and to protect your family.
With appropriate planning, MRIB can help you find a tailored solution, which may include simple, flexible products to mitigate any inheritance tax liability.
There are gift or trust solutions which take seven years to become fully exempt from inheritance tax. Some investment structures could fall outside of the estate after just two years. This solution can also allow you to retain control of your money at all times
Why not get in touch today to discuss your requirements further.
Inheritance Tax Planning is not regulated by the Financial Conduct Authority.