Inheritance tax tricks – are they legal?

Posted by Joanne Warren 18 December 2017 09:22 AM

There is a lot of talk about tax at the moment. With The Budget just behind us, the focus is clearly on how much the government bring in and how much they spend. One area that has been under scrutiny is inheritance tax. This is a tax levied on an estate when someone dies. Attacked as a death tax, it can have the effect of taking wealth out of families. There are inheritance tax tricks but these are often seen as either breaking or stretching the law. But that is rarely the case.

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Topics: IHT

The Truth Is You Are Not The Only Person Concerned About Inheritance Tax And Property

Posted by Joanne Warren 04 December 2017 07:29 AM

People are worried about inheritance tax and property and what it means to them. With rising house prices, the value of an estate is more regularly subject to inheritance tax, Some are even turning to equity release to take some of the value out of their estate before they pass away. There’s little wonder with a tax take of around £4.8 billion, people are worried about inheritance tax and property when they pass away.

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Topics: IHT

Over 50’s - Everything You Wanted to Know About Inheritance Tax Rates and Were Too Embarrassed to Ask

Posted by Joanne Warren 27 November 2017 11:11 AM

Many people over the age of 50 are unsure what liabilities they might face with inheritance tax when they die. This death duty is levied on the estate of people when they pass away and can have a major impact on the wealth that you can pass on to your loved ones. Inheritance tax rates haven’t kept up with rising house prices and are dragging more and more people into the inheritance tax trap.

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Topics: IHT

Once you’ve sold a business, you are done with it right?

Posted by Joanne Warren 24 November 2017 11:45 AM

If a business just isn’t working out for one reason or another then there comes a time to cut your losses and move on. Research says that hundreds of thousands of small businesses will cease trading for one reason or another over the next few years. And when they have dealt with all of their business arrangements, the matter is over, right? Well, that’s what one business owner thought. Unfortunately, the HMRC has a very different view of affairs and started up an enquiry. The tax man decided that there was a lot more to things than a closed business. The business owner faced the stress of an investigation and a massive tax bill that he couldn’t have expected. It nearly took over his world. That’s when Harlands stepped in.

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Topics: IHT

Getting caught in the inheritance tax net

Posted by Joanne Warren 01 November 2017 03:50 PM

It used to be a tax that only affected the rich. In years gone by, getting caught in the inheritance tax net meant that you had a lot of wealth when you died. But now there are more middle-income families getting caught in the inheritance tax net and facing a tax bill on the estate of a loved one that can run into the thousands or tens of thousands and beyond.

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Topics: IHT

How can inheritance tax affect me ? I’m a middle-income earner

Posted by Joanne Warren 27 October 2017 02:23 PM

We are often asked – “How can inheritance tax affect me ?” by people who never thought that they would be in a position where this tax would touch them. The tax was always thought of as one that affected the rich only. In days gone by, this was definitely the case. But now inheritance tax is charged on the estates of middle-income earners across the United Kingdom. Let’s take a look at how can inheritance tax affect me –

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Topics: IHT

Why is inheritance tax so complicated?

Posted by Joanne Warren 23 October 2017 09:15 AM

Why is inheritance tax so complicated ? From the outside there are so many layers to it. If you Google inheritance tax planning then you see advice such as gift some of your money away, set up a trust and make sure your will is right. But these all take different professionals. You might think of a financial adviser when deciding to give away some of your money. You think that you will need a solicitor for a will and to draw up a trust document. But as the whole thing is tax, surely that’s the remit of an accountant?

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Topics: IHT

Inheritance tax secret weapons and how to use them

Posted by Joanne Warren 18 October 2017 11:08 AM

Inheritance tax can take a big cut of your estate when you pass away. The amount of money that you have worked for all your life and intend to pass on to your loved ones can be eroded by this form of taxation. Many people don’t consider the impact of inheritance tax until it is too late (Usually when they are in their 70s or 80s). But there are some inheritance tax secret weapons that can be employed to save on this tax bill. The trick is to know what they are and to utilise them at the right time. 

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Topics: IHT

Inheritance tax planning lessons from the rich and famous

Posted by Joanne Warren 12 October 2017 09:44 AM

Every time one of our prized celebrities passes away there is a lot of media coverage. Usually in the small print somewhere is a mention of who they left behind. As inheritance tax advisers, one of the more interesting parts of this for those who work in Harlands towers isn’t who they left behind, but what they left behind. It is always interesting to pick up inheritance tax planning lessons from the rich and famous because they often have so much more wealth to protect from the tax man.

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Topics: IHT

How does Inheritance Tax affect me?

Posted by Joanne Warren 11 September 2017 09:47 AM

Your loved ones can end up with a bill of tens of thousands of pounds or even more within 6 months of your death if you don’t plan properly. In term of personal taxation, the bill for inheritance tax could be higher than any other tax bill you ever receive. The government is bringing in more revenue from inheritance tax every year. More of our clients are asking us ‘ How does inheritance tax affect me ?’ And with good reason. The first thing you need to know about inheritance tax is that you can plan to mitigate against it. What does that mean?

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Topics: IHT