Our inheritance tax advice eases client’s worries2024-03-21T12:46:00+00:00

Our inheritance tax advice eases client’s worries

Get in touch to discuss your tax 07813 434195 stephanie.churchill@churchilltaxation.co.uk

The Problem

Peter, who was divorced and in his late 60s, approached us for advice on inheritance tax (IHT). His total estate was worth around £1.1 million, consisting of his main home, a small residential property portfolio and some investments. He also had a pension fund, which was his main source of income. Peter was concerned about leaving his children with a large inheritance tax bill after his death.

The Solution

We carried out an inheritance tax review for Peter, which we presented to him as a report, written in plain English. We had calculated the amount of inheritance tax that would be owed and outlined how he could reduce the value of his estate by transferring assets before his death.

Our report also revealed Peter’s liability would be lower than he’d originally anticipated because he was eligible for the residence nil-rate band (RNRB), in addition to his nil-rate band allowance.

During our first meeting, we discovered he wasn’t using his inheritance tax allowances and had surplus income he could give away each year.

Peter is now considering options such as incorporating his property portfolio or transferring assets into a trust for his children, as part of his ongoing inheritance tax planning.

TAX ADVICE
ACROSS THE UK

Based in Dudley, in the West Midlands, we’ll work with you over the phone or on email, so it doesn’t matter where you are in the UK.

Our support can help you whether you live in London, the South, the Midlands, Wales, or the North.

With Churchill Taxation, you’ll benefit from the skills of a highly qualified team, combined with a tailored, personal service, ensuring you receive the right advice for you.

PERSONAL
TAX

We’ll review all your personal tax matters to give you peace of mind. Our services include self-assessment tax returns, capital gains tax, offshore tax planning, inheritance tax and personal tax investigations.

We work with a wide range of private clients, from sole traders and entrepreneurs to high net worth individuals (HNWIs), retirees and married couples. With our support, you can be confident your tax matters are in safe hands.

SMALL BUSINESS
SUPPORT

As a small business owner, the word ‘tax’ may fill you with dread.

But it doesn’t have to be that way.

We’re here to take the pain out of your business tax by saving you time and hassle and making sure you don’t fall foul of HMRC rules. Our advisers are trained to deal with all areas of tax that are relevant to your small business. This includes corporation tax for limited companies, VAT and income tax for partnerships.

TRUSTS AND
ESTATES

If you’re a trustee or executor, we’ll work with you to ensure your trust or estate is managed efficiently and correctly.

We can also help if you’re a financial adviser, accountant or solicitor looking for specialist tax advice in relation to trusts and estates.

Our team of experts understand complex tax legislation and are up to speed with the latest developments, so you can rely on our advice.

No surprises

Our prices start from £295 per hour plus VAT, and our fees are agreed at the start, so you’ll be clear on the cost.

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