How much tax will your beneficiaries have to pay on their inheritance?

The chances are you may not have given much thought to this question. You see, many people assume that taking steps to protect an estate from the taxman is a problem only for the very rich.

But this is far from the case.

In our current tax year (to 5th April 2008) any estate valued at more than £300,000 is potentially liable for Inheritance Tax. With house values as they are and tax charged at a flat rate of 40% on anything over £300,000, you can see how easy it is to end up with a fair sized tax bill.

Fortunately, with a little thought and planning, there are steps you can take to reduce any potential liability. But it's important to start the process now and not leave things until it's too late.

To calculate the value of your estate and your potential inheritance tax liability, please view Inheritance Tax (protecting your beneficiaries' interests) in our on-line publication Saving Tax. To find out more about your possible tax liability or ways in which we can help you reduce it, please contact Beverley Aitken on 01622 213736 or email beverley.aitken@dsh.co.uk.