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Inheritance tax planning
We know that matters of inheritance evoke strong feelings. Our clients want to minimise their inheritance tax exposure, but they also want to ensure that particular assets are passed on to the right people.
Longmores has worked in this field with many different types of client and in the face of often rapidly changing legislation, for some two centuries.
Where a family business, large investment portfolio or land ownership is involved, issues around inheritance and inheritance tax can become complicated. We help you cut through this complexity. We ensure you apply for the right level and type of tax relief and structure your inheritance planning in a sensible, tax efficient and legally compliant way.
Where appropriate, our team of experienced private client lawyers work closely with, or can introduce you to, accountants, specialist tax advisers or valuation experts to ensure you are getting the best advice possible. We can also set up and help to administer Trusts where this approach may be appropriate in managing the tax liability of your estate.
The Longmores team help across all stages of inheritance tax planning, including:
- Advising on the best approach to structuring and drafting wills to minimise inheritance tax liability on your estate
- Advising on setting up and providing ongoing administration for trusts to protect your assets for future generations in a tax efficient manner
- Working with valuation experts or accountants to provide evidence to contest HMRC claims of underpaid inheritance tax
- Advising on capital gains tax issues arising on such planning.
Examples of our work:
Simplifying inheritance tax planning for a complex family business structure.
Advising on appropriate tax planning for a landowning family.
Inheritance tax planning for the owners of a family run business.
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