Benjamin Franklin said in 1789, “In this world, nothing can be said to be certain, except death and taxes.” Inheritance tax is the meeting point of these two certainties of life! When you die leaving your estate and property to your loved ones, the government will take 40% of it from your loved ones (with some exceptions & reliefs).
Although it is generally true that inheritance tax arises at the point of death, there are some situations where it arises during the lifetime of a person, which we will explain later.
The good news is that you can avoid all of the inheritance tax by good tax planning well ahead of your death. Actually, the government encourages you to do proper tax planning.
Contact UK Property Accountants to find out how you can reduce or eliminate the potential inheritance tax bill.