There is a specific relief that relates to certain agricultural property situated in the UK, Channel Islands, Isle of Man and in the EEA (European Economic Area). Qualifying agricultural property can be passed without inheritance tax as a lifetime gift or upon death.
Inheritance tax on property is to be paid if the taxable value of the estate (with any gifts made by the deceased added on if they were made in the seven years prior to their death) exceeds the nil rate band. The rate of inheritance tax on property is currently 40%.
Wilmslow estate planning is not something that many people take into consideration, and this is very unfortunate considering how devastating it would be to leave your estate behind without any instructions to your friends and family. Wilmslow Financial Advisers can help you with this process and make sure that your estate planning is dealt with properly.
Estate planning is highly beneficial, and there are a number of reasons why you should go ahead with the process – whether it be for commercial or personal assets. Throughout this article, we’ll tell you exactly what estate planning is, how a Wilmslow Financial Adviser can help you, and we’ll also save you from making a big common mistake.
West Kirby estate planning is extremely important if you want to protect the assets you have now and make sure that they are properly distributed to your bloodline family members when you are no longer around. Having no planning in place, may mean your family pays unwanted inheritance/capital gains tax and your assets may even pass to someone in your family you had never intended under the laws of intestacy.
If you have been thinking about your finances recently then hopefully you have also been thinking about what will happen to your estate when you’re gone – understandably, this most likely isn’t something that you’ll actually want to think about, but many people overlook it, and it can cause a lot of difficulty in the long-term.
You have most probably heard about IFA’s and their nature of work – they advise us about financial products! However, only a very small amount of us actually know how beneficial a Knutsford personal financial adviser can be to us. It is not just the upper-class that can benefit from a financial adviser. In fact, people on a low-income actually have more of a need for a financial adviser than people on a higher-income.
Throughout this article, we’ll give you some information on financial advisers, and how your very own Knutsford Financial Adviser can be of great benefit to you.