| VS&H has for a number of years advised a variety of clients on tax planning to mitigate or avoid the payment of Inheritance Tax. The advice need not be limited to those people who are worth a fortune, as with house prices at the level they are, a large number of people who may not regard themselves as wealthy, could find that Inheritance Tax is payable on their death.
If the joint assets of husband and wife together exceed £275,000, (for tax year 2005/06) there could be Inheritance Tax to pay on the death of the survivor. At a rate of 40% of everything in excess of £275,000, this could make quite a dent in a family’s inheritance.
There are a variety of ways to reduce the potential tax liability, some of which are no more complicated than ensuring that the annual exemption of £3,000 is used up each year. Others involve more complex advice, and our solicitors are qualified to listen to your needs and then give accurate and complete advice, so that you are aware of the opportunities for tax planning and of the advantages and disadvantages of any of the routes you should choose to follow. | 
