Lycetts Financial Services

Inheritance Tax Exemptions

Lycetts advisers use detailed knowledge of inheritance tax relief and exemptions to help clients make astute investment choices.

A number of exemptions apply when distributing all or part of an estate, meaning there may be little or no inheritance tax to pay. These include:

 

Gifts with a value of £3,000 per year (the annual exemption), Gifts to spouses, during lifetime and after death (the inheritance tax spouse exemption), Primary, permanent residences of up to £1m in value (from 2017); Assets belonging to someone who dies in armed forces, humanitarian or emergency service, Business assets (inheritance tax business relief), Agricultural property (agricultural relief), Woodland timber (woodland relief) and Assets with heritage / cultural interest may be exempt

 

Behind these reliefs and exemptions are detailed rules and clauses that require thorough analysis in the context of other decisions being taken about a ‘person’s estate’.

 

There are also many specific investments that utilise these exemptions, including:

 

Venture Capital Trusts, Enterprise Investment Schemes, Seed Enterprise Investment Schemes and Inheritance Tax Investment Schemes

 

Lycetts assesses the value of exemptions for this wider context and on a case by case basis, to arrive at the most appropriate option for each individual client.

 

Wondering if you can benefit from inheritance tax relief and exemptions? Get in touch today to discuss your requirements with one of our professional advisers.

Get in touch

We’ve offices located all across the United Kingdom

And we’re always available for you by telephone or email whenever and wherever you need us.

Contact our expert directly or alternatively complete your details below to contact the team.

Nick Straker

Newcastle

Contact Nick Contact The Team

*Required fields

*Required fields

Have you thought about...

Lycetts advises on the suitability of various alternative tax-efficient investments...

read more

Investment bonds are subject to a number of different taxation rules, compared to other...

read more

Individual savings accounts (ISAs) are tax-free savings accounts, with expert advice ...

read more

Lycetts Private Client insurance division is founded on unrivalled personal service and...

read more

Our People

We provide our clients with more than just insurance solutions.

Our experienced staff understand your needs.

Previous Next
Nick Straker 3

Nick Straker

Director

Clayton Kopko 3

Clayton Kopko

Systems Manager

Allison Spragg 3

Allison Spragg

Para Planner

Hugo Cannon 3

Hugo Cannon

Independent Financial Adviser

Ros Beddie 3

Ros Beddie

Pension Administrator

Lycetts Insights

Lycetts Insights provides updates on topical issues and key events.

Read more about developments both in insurance and at Lycetts.

HI TECH SPORTS EQUIPMENT AND THE RISK OF UNDERINSURANCE

May 26, 2017

The thing about sports equipment and accessories is that we tend to buy things one at a time and do not always realise their accumulated value until it is too late. Underinsurance is therefore a significant risk.

read more

Key person insurance

May 22, 2017

According to research by Legal and General, 40 per cent of small businesses would cease trading within a year if they lost a key person. The smaller the business the more impact the loss of an individual will have. There are ways to mitigate such a loss and the most simple is Key Person Insurance (KPI - also known as key man...

read more

LYCETTS LOCATIONS

Our Offices

  • Newcastle

  • Edinburgh

  • Exeter

  • London

  • Marlborough

  • Newmarket

  • Norfolk

  • Oxford

  • Shropshire

  • Surrey

  • Sussex

  • Yorkshire