Inheritance Tax

For expert advice on inheritance tax, contact the experienced tax solicitors at Bruce Lance, either at its High Wycombe office or in Poole.

Anyone living in the Buckinghamshire or Poole areas is likely to have assets with a value higher than the threshold for inheritance tax, but there are ways of minimising your tax liabilities and maximising the assets that are passed on to your beneficiaries – and the earlier you do this the better.

BruceLance-Poole-87Tax legislation is constantly changing, so it is advisable to contact Bruce Lance for the very latest and most relevant inheritance tax advice. Our experienced solicitors can advise you on how to protect your assets in the most effective way. This may include placing assets in a trust, making monetary gifts while you are still alive rather than through a will, taking out specific insurance policies, making investments or transferring unused nil-rate allowances from a deceased spouse or civil partner, but everyone’s circumstances are unique and we will provide guidance on which is the best solution for you.

Some ways of reducing inheritance tax liability may leave you vulnerable to other types of tax – and by the time you have paid these you have lost any benefit from the original inheritance tax reduction. At Bruce Lance we look at the bigger picture, taking into account the effect that any steps designed to reduce inheritance tax will have on other taxes, such as capital gains tax and stamp duty land tax. We can assess the full range of your personal tax issues to ensure that you are claiming all appropriate exemptions and reliefs.

We like to build a relationship with our clients, and they in turn enjoy the reassurance that Bruce Lance is a long-standing, traditional firm that can be relied on to resolve any problems. Our solicitors’ expertise ensures that any legal process will be completed smoothly and to clients’ expectations. We understand the personal and sensitive nature of estate and tax planning, and handle all client information in the strictest confidence.

Bruce Lance offers expert advice on inheritance tax, including:

  • Assessing tax liability
  • Calculating tax due
  • Dealing with paperwork from HM Revenue and Customs
  • Distributing estate to beneficiaries
  • Minimising tax liability
  • Arranging payments

Case studies

Bruce Lance has provided specialist advice on inheritance tax matters of all kinds, including:

  • Piecing together details of an estate where probate had not been applied for in 20 years. Helping the client to find the missing will and deeds and applying to the Inland Revenue for a grant on credit as there was no money readily available to pay inheritance tax.
  • Advising on deeds of variation within two years of the date of death to ensure best possible outcome for inheritance tax purposes.