Inheritance Tax Planning

For 2016-17, the Nil rate band is £325,000. This is an individuals' inheritance tax allowance, with anything over being subject to inheritance tax.

Exempted Gifts - it is possible to give away £3,000 of gifts each tax year without them being added to the value of your estate. This is known as your annual exemption.

Small Gifts - You may also make small gifts of up to £250 per person per tax year without being charged Inheritance tax.

Potentially Exempt Transfers (PET's) - Unlimited gifts can be made without being chargeable to inheritance tax providing you live for seven years after the gift is made. Inheritance tax at 40% will be charged on any gifts made within 3 years of death. Inheritance tax due for any gifts made between 3 - 7 years before death are shown in the table below.

Do you have a valid will?

Dying without a valid will means your estate is subject to the rules of intestacy. It is important to protect your loved ones future.

Contact our sister company - County Estates & Wills for more information regarding wills, probate, Lasting Powers of Attorney, trusts and much more!

Some aspects of Inheritance Tax planning are not regulated by the Financial Conduct Authority.

The Information above with regards to Inheritance taxation levels and basis of reliefs are dependent on current legislation and individual circumstances. These are not guaranteed and may be subject to change.

Pembrokeshire Mortgage Centre Ltd trading as County Financial Consultants is Authorised and Regulated by the Financial Conduct Authority. Financial Services Register Number 479220. Registered in England & Wales, Company Number 4680558.

Registered Office address: Sea View, Cambrian Terrace, Saundersfoot, Pembrokeshire, SA69 9ER. Trading address: as per our registered office.

The guidance and or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted to customers in the UK.

© Pembrokeshire Mortgage Centre Limited trading as County Financial Consultants, 2017. All rights reserved.

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01834 815062

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Sea View, Cambrian Terrace, Saundersfoot, Pembrokeshire, SA69 9ER