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.

Those who are looking to organise their affairs properly will benefit from our inheritance tax service, as it will leave you safe in the knowledge that your loved ones will receive the assets that you intend only for them. We deal with each customer discretely and professionally, as we understand that many of our clients find it difficult to talk about what will happen to their property when they are no longer here.

At every stage, we will provide experienced support and assistance, knowing the heightened importance of ensuring 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 helping you to minimise the impact of inheritance tax.

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:

Accountants for Inheritance Tax
  • Will creation & Will amendments
    The reasons to make a will are extensive, but primarily it will enable you to lay out how you wish your assets to be separated and to what extent your friends or family will be included. In the event of a death without a will, often the procedure of separating assets can be difficult and stressful, something that can be avoided much easier if a clear and extensive will is in place. As well as including who will take on the role of the will executor, provisions should be made for the care of any children, a full disclosure of your assets and who will receive the possessions. Keeping your will up to date with will amendments is also important, as an out of date will can cause problems upon your death. For expert advice creating your will, amending the document, and calculating your assets, a certified will accountant can help and establish how to save on inheritance tax.
  • Creating trust funds
    A trust fund is a way to reduce the inheritance tax that will have to be paid on your assets. By naming someone else as a beneficiary to your estate it lowers the value and in turn reduces the amount of inheritance tax that will be due. The assets that you have placed in the trust of a beneficiary will be safeguarded against third party inference. Setting up a trust fund can be difficult, so if you are unsure of how to proceed, it can be helpful to get the assistance of a professional accountant, ensuring your assets are safe.
  • Lifetime gifts
    Lifetime gifts are exempt from inheritance tax if presented over 7 years before you pass away, but there are a number of rules and regulations that must be adhered to. As soon as lifetime gift is awarded to a loved one, they can immediately benefit, and the process is one that can be completed every year with an annual limit of £3,000 total. Lifetime gifts require significant planning, but can be an excellent way to reduce your estate value. At The Accountancy Solutions we can help you to organise lifetime gifts for your family, making sure that you stay within the rules with each gift given.
  • Calculating Inheritance Tax & Disclosures
    To avoid an investigation into your inheritance tax, it is vital that the HMRC is given full disclosure on your finances and assets. In an already stressful time, having to deal with a HMRC investigation can be extremely hard on families, so making provisions and disclosing your information is very important. At The Accountancy Solutions, we handle every inheritance tax calculation with professional care, knowing how essential it is to get it right and avoid disclosure problems occurring in the future.
After working with another accountancy firm with never ending problems, I decided to go with TAS, and I'm so glad! After 2 years of working with them, I've never had any problems. Everything is always done on time, and they always keep me informed. Fantastic service with a very professional team!
Lauren White, Brighton
We struggled to find a good accountancy firm to work with, but when we found TAS, we could see they were by far the best. They're so professional and so efficient. Extremely good service. We would definitely recommend to business who are in difficult situation and need good advice regarding their tax issues.
Debbie Bligh, London