Bluebond: Inheritance Tax Advice Services

We all look for ways to avoid paying inheritance taxes. One simple way to avoid paying the inheritance taxes is by taking out life insurance and then putting it in a trust. Inheritance Tax insurance is a good way of avoiding paying the taxes and also saving the tension of paying the taxes. Ways to avoid paying Inheritance Taxes Can an individual avoid inheritance taxes? Yes, they can. If a person inherits an estate or a property that crosses the inheritance tax threshold, then they become liable to pay the inheritance taxes. However, there are some ways with the help of which you can reduce the inheritance tax amount that your heirs or beneficiaries will have to pay. The ways are as follows. One can leave a part of their assets to a charitable organization. Donating ten percent will bring down the inheritance amount from 40 percent to 36 percent. One can pay in a pension instead of in a savings account. You can give a gift of £3,000 a year to your f...

You will not live forever. But you can surely help your loved ones inherit much of the wealth and property that you have accumulated throughout your lifetime. If the total property surpasses the inheritance tax limit, then the family will have to pay the bill soon after you die. However, this problem can be eliminated by you if you do inheritance tax planning in advance so that the bill is kept to a minimum. Inheritance tax is a tax that your beneficiaries pay if the property amount crosses the inheritance tax threshold. If the property amount is 325, 000 pounds, then the property is tax-free. This is also known as the IHT nil-rate band. Everything above this threshold will be taxed at 40 percent. This can lead to a huge bill amount for the bigger estates.   How to do inheritance tax planning? Inheritance tax planning  is very vital for you so that you can save your beneficiaries from paying extra taxes. If you leave the property to your civil partner or s...

An inheritance tax is a type of tax which is paid by an individual who inherits money or property of a deceased person. Most people want to avoid paying this tax and they are always on the lookout for ways. In this article, we will list you some ways with the help of which you can avoid paying inheritance tax in UK.    Giving gifts when you are alive One way in which you can reduce the amount of inheritance tax is by giving gifts when you are still alive. It is important to  make these gifts 7 years before you die or else it will fail for Inheritance tax . Also, if you transfer an asset to your children and you continue to benefit from it, the gift will not qualify for exemption. If you want to give big gifts, ask for advice from an experienced professional. There are allowances that you need to be aware of: Annual exemption An individual can give away £3000 worth gifts every year without this getting added to estate value. If you have not used last year’s exemption, then...