Wealth management

Plummer Parsons aim to help you review matters in a logical, friendly but thorough manner.

Trusts can play an important role in inheritance tax planning, but the circumstances must be right.

If you give any of the above to a charity, you can claim income tax relief and may get capital gains tax relief.

Pension planning should not be overlooked as it still provides opportunities in the right circumstances to be highly tax efficient as follows:-

A useful explanation of the legal terminology connected with Trusts.

A potentially useful way of providing a safe income for dependants whilst ensuring some assets can be passed on at a later date.

Every penny helps - particularly when inheritance tax will take 40% of an individual's estate in excess of £325,000 and 40% of a married couple's or a couple in a civil partnership's estate in excess of £650,000.

When you start a family there are many financial issues to consider. These things may not be easy to talk about but having children means that you should reconsider your priorities. You should make sure your children are protected against the financial repercussions should one or both parents die.

Plummer Parsons set out 10 basic questions you should always check when planning for Inheritance Tax

If your assets exceed £325,000 (including any gifts you have made in your last seven years), your legacy could be diminished by a 40% tax liability