Our specialists can assist in a range of VAT & Tax areas

Benjamin Franklin said that “nothing is certain except death and taxes”. In the case of Inheritance Tax (IHT), it couldn’t be truer. When a person dies in the UK, the government levies a 40% tax on the value of their estate. Money, property and possessions anywhere in the world contribute to a decedent’s estate, and the heirs of anyone leaving an estate worth more than a certain value will have to pay IHT. Nor is it limited to the very rich, since rising UK property values have put the value of many estates over the IHT threshold.

Having to deal with these issues when in bereavement just adds insult to injury. At Deeks VAT Consultancy we have the experience and in-depth knowledge to help mitigate the additional pain this can cause. Our specialist consultants can take you through this from start to finish. 

Inheritance Tax Planning 

IHT is often called a “voluntary” tax, which technically means that people can plan not to pay it. There are several legitimate ways to do this that are built into the IHT structure, though the rules are complicated. With careful forward planning, however, we can help clients to manage their assets so as to maximise the share of their estate that is bequeathed.  

This includes knowledge of IHT thresholds and seeking out available allowances and reliefs. Effective IHT planning also involves calculating the value and timing of lifetime gifts and the role of settlements and trusts. It may extend to tallying and reporting estate assets to submit for probate. 

At Deeks VAT Consultancy, our IHT experts work closely with our clients to ensure that their estate is passed on with minimum tax liability.