There is a widespread perception that using a trust can help someone avoid inheritance tax (IHT). This is not strictly true, although trusts can help with IHT mitigation when used properly. Part of the confusion lies in the wide range of trust types that exist. In this article, our financial planning team at WMM offers a brief overview of the main varieties that exist in 2021, and how they can be used in estate planning.
Did you know that after World War II, the UK government raised inheritance tax (IHT) by 80% and then went as high as 85% in 1969? These figures are much higher than the 40% levied in 2020 on the value of an estate exceeding £325,000. Yet questions have been raised in the press about whether IHT may be in the Chancellor’s sights as we approach the autumn budget.
Weston Murray & Moore Ltd is authorised and regulated by the Financial Conduct Authority. Financial Services Register No: 146499 http://www.fca.org.uk/register.
Weston Murray & Moore Ltd Registered Address: 4 Witan Way, Witney, England, OX28 6FF. Registered in England & Wales, No. 2317026.
Neither Weston Murray & Moore Ltd nor its representatives can be held responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page. The Financial Conduct Authority does not regulate National Savings or some forms of mortgage, tax planning, taxation and trust advice, offshore investments or school fees planning. The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK.
Please read our Privacy Statement before completing any enquiry form or before sending an email to us.
© 2021 Weston Murray & Moore. | Cookie & Privacy Policy | Complaints | Website by CreativeAdviser
Recent Comments