Are you worried about paying huge chunks of inheritance tax? Do you need a partner to help you reduce these amounts considerably? Thanks for choosing OneE group for all your inheritance tax related matters. The company works with lots of experts in inheritance tax planning to save you from paying prohibitive inheritance tax charges. Here’s the best way to do it right.
If you’re currently married or in a civil domestic partnership, you can gift your civil partner or spouse. That way, you can rest assured that your estate will not pay any inheritance tax. Of course, if your spouse or civil partner has a permanent home away from the UK, there are other rules that apply. Visit http://www.streetinsider.com/Press+Releases/OneE+Group+promotes+Gwilym+Davies/10890499.html for more information.
• Award The Estate To Family Members Or Friends
If you give something to your friends or family members, who are not spouses or civil partners, as long as you’re not benefiting from the item, the value might still be included in your inheritance tax charges for at least 7 years. However, you can award family members with a limited amount to avoid paying any extra charges. For instance, you can award money to your kids or grandkids when they get married and avoid being taxed.
• Use A Trust
If you open up a trust for your investments, property or cash, as long as your family under the age of 18 are not benefiting from these items, you can’t be charged inheritance tax since they are not part of your estate. You can either create a trust in your will or right away. However, the rules governing trusts are quite complicated, so you need to ask the experts at https://bdaily.co.uk/finance/29-05-2015/onee-group-becomes-living-wage-employer/ about it. Keep in mind that there are some trusts that pay inheritance tax on their own. Therefore, choose the best trusts to keep you from paying exorbitant inheritance tax charges.
• Give To Charity
If you give anything to charity, you’re not charged any inheritance tax. Therefore, this is a good way to reduce your inheritance tax charges as well as giving for a good cause. Also, if you leave at least 10% of your whole estate to charity, this might reduce the overall amount of inheritance tax due on the remaining estate. Of course, this might not help your family members or friends save a lot. However, they can receive more than usual.
For more information on how to deal with inheritance tax and other related matters, visit https://companycheck.co.uk/company/06074095/ONEE-GROUP-LIMITED/summary today!