• March 29, 2024
 A masterclass in protecting IHT allowances

A masterclass in protecting IHT allowances

“In this world nothing is certain except death and taxes.”

This famous fatalistic proverb drawing on the inevitability of death is commonly quoted by Trust and Tax practitioners, but who uttered these famous words?

Daniel Defoe, Benjamin Franklin or Margaret Mitchell? All have uttered similar words, but no one can say with any certainty that the proverb, in this form, was actually ever said, instead it is likely that several sayings have been warped into an easily digestible, witty quip.

Like the famous quote, Inheritance Tax is commonly misunderstood by the general public, the legislation has been distorted, over complicated and confused to the point where the public assume that this tax, like death, is certain.

But unlike death, Inheritance Tax is not a certainty.

This month’s Webinar will focus on how a client, using IHT allowances commonly misunderstood or simply not known to exist, can minimise their IHT liability.

Amongst many things, our experts will explore the annual gifting allowance – the ability for a person to give away up to £3,000 a year – the option to make gifts out of your surplus income and the facility to give away assets, either to individuals (Potentially Exempt Transfers) or to Trusts (Chargeable Lifetime Transfers) during their lifetime. Our experts will spend time considering whether for clients who make both PETs and CLTs which order these gifts should be made.

We will also talk about the often forgotten possibility of making dispositions for the maintenance of their family – allowing an immediate reduction in IHT.

Although death is inevitable, paying 40% of our hard earned estate to HMRC doesn’t have to be.

Sign up to our Webinar and find out how your clients can minimise their tax liability and in turn maximise their ability to benefit their loved ones.

Register your place now

All of our Webinars are held at 10am until 11am.
Please click the links below to register. Once registered, you will receive joining instructions to your email address. CPD points will be awardable for all who attend the Webinar.

Friday 8th September
Monday 11th September

IHT related webinars coming soon

How Discretionary Trusts save your clients IHT – Friday 6th October and Monday 9th October

Maximising IHT Reliefs – Showing Friday 3rd November and Monday 6th November

Join our LinkedIn Discussion group:

Join our LinkedIn Webinar Group. Our Estate Planning experts will address all of the questions raised during the webinar and any further queries relating to the topics covered. Become part of our growing community by sharing your opinions, questions and knowledge with us.

Click here to join

This article was submitted to be published by Countrywide Tax & Trust Corporation as part of their advertising agreement with Today’s Wills & Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills & Probate.

CTT Group

http://www.countrywidegroup.co.uk/

  CTT Group is an established Legal Services firm providing multi-disciplinary support for the UK’s Professional Adviser community. Their expertise spans multiple areas of Law, Estate Planning, Finance and Tax matters. CTT Group is recognised as a leading figure in the industry due to their wealth of experience and technical knowledge in the legal and financial sectors. CTT Group is made up of six areas: CTT Professional Services: A specialised knowledge hub designed for the Professional Adviser community and CTT Group members. The Professional Services team will provide you with a bespoke training and support package to suit any business. This includes the New entrants team, Training, Estate Planning Team, Professional Indemnity Insurance Service & the Resource Hub. CTT Tax and Trust: a premium support system for the Professional Adviser community, providing professional executor and Trustee services. They specialise in Estate Planning, Tax and Trust matters and have a wealth of knowledge and experience in delivering the right solutions for your clients. CTT Legacy Software: Ground-breaking legal software that will change how you work. Legacy was explicitly designed with you and your business in mind, so it will seamlessly align with your needs. It can also be tailored to suit your business needs, giving you complete control over your client journey. CTT Legal: Providing innovative and modern solutions to even the most complex legal problems. CTT Legal offer comprehensive Legal advice alongside CTT Law; an SRA-regulated law firm and strategic partner of CTT Group. This includes Residential and Commercial Conveyancing, Litigation, Document production, Client care, Professional Executor & Professional Executor. CTT Accountancy: A newly established Accountancy firm that will work in partnership with you and your business. CTT Accountancy is a practice of highly skilled and experienced accountants with expertise in trust matters, uniquely positioned to offer your clients a range of accounting services, whatever their needs. CTT Private Client: Offering individual professional advice to high-net-worth individuals with various financial situations. Their specialist team have a wealth of knowledge and will work with you to understand your requirements and provide bespoke advice. Click here for more information: https://ctt-group.co.uk/ Contact: CTT Group Tel: 01926 514 390 Email: enquiries@ctt-group.co.uk Address: CTT Group, Gables House 62 Kenilworth road Leamington Spa CV32 6JX