Inheritance tax planning usually involves you and your family in a carefully balanced long-term approach. But the building blocks of Inheritance Tax planning remain as ever:

  • Making effective lifetime gifts to individuals and those surviving seven years
  • Maximising the value of assets qualifying for 100% relief from inheritance tax
  • Putting assets into trust for future generations
  • Building up funds which are not aggregated with your estate
  • Using life assurance to help pay any inheritance tax due

The challenge then becomes ensuring any Inheritance Tax planning is compatible with retaining sufficient financial resources to fund your lifestyle and possible needs in later life.

At Ritchie Phillips we specialise in private client tax planning and advice and our in depth experience will help you balance Inheritance Tax planning with sustaining the resources to fund your own needs now and in the future.