Inheritance tax planning is important for preparing for the future, preserving the wealth earned over a lifetime for the next generation and loved ones, and minimising the amount of tax your beneficiaries will pay on your estate.

Our approachable accountants are able to provide straight forward expert advice and guidance on inheritance tax planning including:

  • Making use of annual exemptions during your lifetime
  • How to gift surplus income or make regular contributions to maintenance costs
  • Keeping a business within the family
  • How to use charitable donations to reduce the inheritance tax rate
  • Passing on unused pension funds
Inheritence Tax

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Check to see if you need to use this service

Inheritance tax planning is not essential for all individuals. If you are unlikely to be leaving an estate with a value of over £325,000 (not including your main property of residence) then your beneficiaries will not face any inheritance tax. Furthermore, if your main property of residence is under the value of £175,000 which you wish to leave to your children or grandchildren, then again there will be no inheritance tax liability. There is therefore a maximum threshold of £500,000 that you can potentially leave completely tax-free.

Ridgefield Consulting are able to provide straight forward guidance and calculations for inheritance tax planning. We’re also able to identify opportunities for you to make use of more complex strategies such as the use of trusts and/or use of life insurance policies; however we would point you to recommended third party advisors for further advice and execution of such approaches.

The benefits of inheritance tax planning

Inheritance tax planning is a service we would recommend people revisit throughout different stages in life as the future is inevitably unpredictable and decisions and plans can always change. However, it is highly worthwhile as it will:

  • Give you peace of mind that your affairs will be in order when the time comes
  • Provide reassurance that your loved ones will be able to settle any inheritance tax bill without struggle
  • Ensure you retain adequate finances to sustain you throughout your lifetime
Who does Ridgefield Consulting work with?

Ridgefield Consulting is a small but growing independent family-run firm based in Oxford. We’re well known within the local community of Botley and Cumnor, but our reputation goes much further and we help many clients in Oxfordshire including Woodstock, Farringdon and Banbury.

Our inheritance tax planning clients include spouses and civil partners, family business owners and high-net-worth clients. We welcome clients from any background and always offer the first consultation free of charge so that we can introduce ourselves, find out more about you and give you a chance to see if we would be a good fit for your needs.

How much does Ridgefield Consulting charge for inheritance tax planning?

Ridgefield Consulting does not operate on fixed-fee rates. That’s because we don’t believe anyone should have to pay for more than what they need. Every client we meet is different, will have their own individual circumstances as well as personal plans for how they would like their assets and wealth to be distributed through inheritance. Our free introductory consultation will allow you to discuss the objectives you want to achieve. We will then prepare a quote detailing the level of advice required, calculations that will be included in your inheritance tax planning summary and any further tax and accounting action that may be required.

> What to do if you want to use Ridgefield Consulting

 

The very first step is to get in touch with us! Give us a call or complete the contact form below. Let’s arrange a convenient time for you to meet with us and go from there.

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