Inheritance Tax and Succession Planning Services

London is home to successful businesses of all sizes, with a lot of these businesses having traded for a number of years with their founders now overseeing a company worth millions of pounds. However, as a business owner there comes a time when you turn your attention to exit and Inheritance Tax (IHT) planning. 

When your thoughts turn to IHT and the understandable desire to reduce the tax burden on assets passed to the next generation, speaking with an experienced personal tax professional can ensure careful planning that adds value and mitigates the potential for a hefty tax bill, saving you substantial sums. With IHT currently at 40%, considering your wealth and planning for its distribution is incredibly important as gifting may be possible within your lifetime. 

London businesses can rely upon the expertise of Wilson Partners as we’ll work with you, understand your individual situation and manage your wealth accordingly via our Inheritance Tax and succession planning services. Thanks to our broad knowledge we are able to suggest several options that suit a range of family situations and ensure your wealth is distributed in line with regulations, whilst possibly reducing the tax liability of your estate.

Inheritance Tax is a form of tax charged on the estate following the death of an individual. For many years it’s a tax that’s been met with controversy as it is usually payable upon the assets being passed onto Beneficiaries, and can significantly reduce the inherited amount if careful planning is not undertaken within the donor’s lifetime.

You are subject to UK IHT on your worldwide assets if you are a UK domicile, however if you’re non-UK domiciled, you are subject to UK IHT on your UK assets only.

Inheritance Tax is a difficult topic for both donors and Beneficiaries, however avoiding IHT planning leads to missed opportunities to mitigate your exposure to IHT resulting in a potentially high tax bill to be paid upon death. We’ll define a clear strategy for you in order to manage the gifting of your wealth during your lifetime, minimising your exposure to Inheritance Tax. If you’d like to speak to an expert on tax matters and succession planning, get in touch with Wilson Partners today.