Time spent planning now could save you a large amount of money in unnecessary tax bills in the future.
While the Nil Rate Band (NRB) for Inheritance Tax (IHT) has been raised, primarily to take into account the increase in average property values over the last decade, it can still be surprisingly easy to slip into liability for IHT.

The current NRB (2009/10) is £325,000 per person/individual, rising to £350,000 in April 2010. Husband & wife relationships or civil partnerships can claim double NRB, providing figures of £650,000, rising to £700,000 in April 2010.

Any amount in excess of the NRB is subject to IHT at 40%. This could represent a significant tax bill, so it is wise to assess your potential liability and plan accordingly. Step by Step Financial Services can advise on the best ways of minimising any IHT liability.

Please give us a call on 0121 742 5687 to fix up an appointment to see us at our offices near Solihull, just off the A45 Coventry Road: 9 Sheaf Lane, Sheldon, Birmingham B26 3EJ
Alternatively, please fill in our contact form and we will come back to you.

Step by Step Financial Services Ltd is an appointed representative of Sesame Limited, which is authorised and regulated by the Financial Services Authority. The FSA does not regulate some forms of Inheritance Tax Planning.