Combining probate expertise with chartered tax and certified chartered accounting, Price Mann Probate Services are perfectly placed to advise you. Our extensive professional knowledge means that we understand complex tax legislation, working in your best interests to minimise any tax that needs to be paid from the estate.
Inheritance Tax Involves Complex Variables
Distributing a loved one’s estate among beneficiaries normally incurs inheritance tax and potentially, capital gains tax too. Equally, if your loved one owed income tax or was due to receive a refund, it is vital to establish that the correct amounts were paid.
The complex variables surrounding inheritance tax include:
- Tax reliefs, exemptions and charitable beneficiaries
- The valuation of the property
- If your inheritance includes farmland or woodland
- If you choose to keep, sell, or rent an inherited property
- Properties held in trust
As well as calculating the taxable liabilities of your loved one’s estate, Price Mann Probate Services also work with you to plan and reduce your future tax burdens. For more information about inheritance tax please refer to our IHT factsheet here.
Whilst inheritance tax is a tax on wealth, paid on death, it is not necessarily inevitable. Strategic financial planning is a crucial and sound approach to maximise your tax efficiency.
Contact us today to arrange your initial inheritance tax consultation. Let us help you to explore your options.