Inheritance Tax is sometimes considered to be a third party tax in that it is paid by your estate. The rate of tax is 40% on death over the nil rate band.

There are a number of ways ARK financial planners may be able to help you to reduce any possible Inheritance Tax. Talk to them today to explore your options.

Have you considered making gifts now to intended beneficiaries?

Such gifts can be free of Inheritance Tax, providing you live for at least another seven years following the gifts. If you want either individuals or organisations (eg. charities) to benefit from your estate there are a number of tax-efficient ways of making annual gifts.

Have you made a will?

You could currently leave £312,000 free of Inheritance Tax in your will. ( 2008/09)

What about a Trust?

You might like to think about setting up a trust. You can put part of your estate into a trust for your children or grandchildren; it could then be upto a decade before there is any tax liability. Trusts can be complicated and here at ARK we can work with your solicitor to achieve your aim of leaving your estate to your dependants free of tax.

Are you Insured?

Another option to consider is an insurance policy to pay your Inheritance Tax bill after you die. ARK offer independent financial planning advice to help you compare different insurers and help you consider your options to find the right policy for you.
If you have any of the following questions on your mind an initial consultation with a financial planner from ARK will help.

• Are there advantages in making grandchildren the main beneficiaries of my will?
• What is the Nil Rate Band?
• What is the Inheritance Tax liability if I own property abroad?
• Can I “gift” my house to my children but remain living in the property?
• What are the rules relating to gifting personal effects?
• Is any Inheritance Tax charged on the inheritance left to my partner?
• What are the Inheritance Tax rules on "gifts within the 7-year period prior to death"?
• How do I set up a family trust?
• Can I really give away £3,000 each year free of Inheritance Tax?

For straightforward money advice from the independent financial advisers at ARK Financial Planning call on 0161 303 9977 or email us for no obligation, stress free inheritance tax advice.

Personal Finance | Commercial Mortgages | Savings and Investments | Retirement Planning and Pensions | Equity Release | Mortgages and Remortgages | Insurance | Contact ARK Financial Planning