B25. Sitting on an inheritance tax time bomb?

Fiduciary Wealth Team

Have you been waiting for the UK government to do something about abolishing inheritance tax or at least increasing the threshold before 40% tax is payable? Or perhaps you are living in Spain or have property assets there with no spousal exemption and almost negligible allowances before tax is due?

You are desperate to pass your wealth on to future generations and yet you see obstacle after obstacle in front of you. We have seen far too many estates ravaged by a 40% tax charge, pension funds depleted by over half their value and beneficiaries of Spanish property unable to take possession of their inheritance because they are unable to pay the taxman’s bill.

It doesn’t have to be like this though, there are plenty of options if you start planning early enough and you work with advisers who can look at all the possible solutions available to you. It is a fact that the longer you leave your estate planning the more difficult and expensive it becomes.

Do your beneficiaries a favour now. Speak to a financial adviser Spain on +350 200 50982 or email and start agreeing arrangements that can reduce or eliminate this potentially frightening tax burden.