We understand just how sensitive a matter inheritance tax can be, whether you’re writing your will or executing the will of a loved one. You can call our team to discuss about options available to plan for inheritance taxand associated services.
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Have a question?
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For those who have assets to leave behind to loved ones when they pass away, inheritance tax rulings can mean that those hard-earned assets could be whittled away. There are ways and means of eliminating yourself from the IHT bracket and our experts can give you clear advice on ways to avoid this taxation on your family’s assets, once you have passed.
Inheritance Tax Support
Disclosing the full extent of your assets and estate is a long task, but one we will support you through our friendly team always ready to provide help and guidance where needed. Many strategies that we can help you to implement include creating trust funds, will creation and will amendments and accounting for lifetime gifts. At every stage, we will provide experienced support and assistance, knowing the importance and ensure everything is prepared and correct during the will creation process. To make the situation easier on families, we will look at your finances and assets with an objective viewpoint, providing an extensive plan for your belongings and help you to minimise the impact of inheritance tax.
We care for our clients. Building and maintaining fantastic relationships is what we do best, we will never treat you as a number which is what makes our approach so unique. The highest level of customer service combined with a keenness to listen and work together with our clients means that we leave a stream of happy clients in our wake every single day. Our services come with unlimited help and support provided at no extra cost throughout the year.That help and advice will all come courtesy of your own fully qualified and dedicated small business accountant.
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Are you just looking for an answer to a general question? We always provide free advice to individuals and self employed persons. You can send us an email, call us or fill in the form. But you should be asking answers to general questions.
Frequently Asked Questions
Most frequent questions and answers
Yes you can. Most of our clients who are small bsuiness , we setup an automated software for them to do their book keeping. We only need the records at the end of each period for compliance.
It would take only 10-15 minuites to populate a spread sheet each day to enter data of your daily expenses. You can also take picture of reciepts and save it in a secured drive. Or you can use a software like Reciept bank.
Our charges are depend on amount of time we will spend on yor book keeping. Most of the time and because of availability of online and IT tools we advice clients to scan their record to save time and money.
We will not advice to do your book keeping on annual basis. There are many reasons and the major reason is you will find it hard to analyse and store records for the whole year if left to the end of the year.
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If a person already has 35 qualifying years or is likely to do so by the time that they reach state pension age, missing a year will not adversely affect their state pension entitlement. However, if they have less than 35 years (and will be able to reach the minimum 10 years needed for a reduced state pension by the time that they reach state pension age) making voluntary contributions can be worthwhile.
While any gain on the sale of a property that has been the taxpayer’s main residence throughout the period of ownership is covered by private residence relief, the flip side is that if the main residence is sold at a loss, the loss is not an allowable loss for capital gains tax purposes.
Taking a loan can be tax efficient, particularly if paid back before the trigger date for the s. 455 charge. It may be an attractive option to get over a difficult period where a return to profitability is anticipated, allowing a dividend to be declared to clear to loan balance.