Inheritance Tax Planning in Lothian

Inheritance tax can cost your loved ones a substantial amount of money when you die. It could mean that your family will end up paying tax on money you have already paid tax on. At Clarity IFA, we can help you minimise your liabilities with inheritance tax planning in Lothian.

For more information about inheritance tax planning in Lothian, contact Clarity IFA on 0131 661 2777.

What is Inheritance Tax?

Inheritance tax is a tax on a deceased person’s estate but can also be due on certain transactions during your lifetime. In the past, inheritance tax mainly targeted individuals with a high net worth. However, with the rise in property prices, more individuals are facing large tax liabilities.

At Clarity IFA, we can provide you with the best advice on your inheritance tax position. We will discuss your assets and what you would like to do with them. With careful planning, it may be possible to legally reduce your inheritance tax liabilities.

Typically, you may not have to pay inheritance tax if:

  • Your estate is valued below the £325,000 threshold
  • If you leave everything to your spouse, civil partner, charity or a community amateur sports club

The standard inheritance tax rate is 40% and is only charged on the part of your estate which is over the threshold.

Other Available Services

In addition to inheritance tax planning, Clarity IFA offer a wide range of other services to clients in Lothian. We are always on hand to help you feel in control of your financial future. Some of our other services include:

  • Investments
  • Pension Transfers
  • Financial Planning
  • Protection
  • Savings
  • Mortgages
  • Pensions
  • Wealth Management

How Can We Help?

At Clarity IFA, we understand that the thought of inheritance tax can be daunting and morbid. However, it is essential you plan it otherwise your family could be left with a bill they cannot pay. Our expert financial advisers can guide you through the process and help make the necessary arrangements.

When it comes to inheritance tax planning, we can discuss your current tax situation and suggest the most suitable option for you. These options include:

  • Lifetime Gifts
  • Trusts
  • Preparing a Will
  • Charitable Donations

Forward planning is important.

For Inheritance Tax Planning in Lothian

For more information about how we can help you with inheritance tax in Lothian, contact Clarity IFA. Call us on 0131 661 2777 or fill out our online contact form.

We are members of the Financial Conduct Authority.