Scottish Equitable has issued a series of factsheets - which can be used with clients - detailing how individuals might reduce their inheritance tax liabilities on both personal and business assets.
A summary of all the key information – in a document entitled Making sure your money go to the right people - is designed to promote Scottish Equitable's investment options for IHT planning, however, general information explains how to assess a client’s IHT position. Anyone owning a business, for example, might not consider the property, business assets and any agricultural property as part of their IHT liability so a simple assets and liabilities table has been designed to calculate all relevant holdings and the potential tax liability. Simple decision trees have also been created a...
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