FREE INHERITANCE TAX PLANNING GUIDE ON HOW TO USE WILLS, TRUSTS, GIFTS AND INSURANCE TO AVOID TAXES.

Added : ( Fri Aug 15 2003 )

FREE INHERITANCE TAX PLANNING GUIDE ON HOW TO USE WILLS, TRUSTS, GIFTS AND INSURANCE TO AVOID TAXES.

NEWS RELEASE – FOR IMMEDIATE RELEASE
15 August 2003

Rising property prices and the increase in inherited wealth mean that more and more ‘normal’ people are falling into the Inheritance Tax Trap.

Inheritance Tax is payable when a person whose assets are worth more than £255,000 makes a relevant disposal of an asset. Normally this will be on the death of the individual, but this can also include any transaction that reduces the value of a person’s estate. Thus, gifts of capital during a person’s lifetime can also attract the tax.

On death, Inheritance Tax is chargeable at 40% of the value of any assets over the £255,000 mark. This can therefore represent a significant amount. Any tax that is payable must also be paid to the Inland Revenue before the money can be passed to beneficiaries.

Dan Woodruff of Independent Financial Adviser Woodruff Financial Planning says:

“With the recent growth in the value of property, many ‘normal’ people are falling into the Inheritance Tax trap. Often people do not realise just how much tax their beneficiaries may be forced to pay on their death. This can have unfortunate consequences such as forcing the beneficiaries to have to sell off the family home to meet the tax bill.

There are many relatively simple ways to legally avoid the payment of Inheritance Tax. However this can only be done with expert forward planning, and advice from a professional.”

Woodruff Financial Planning have produced a free guide to this subject, which is available to all individuals via their website at: http://www.woodruff-fp.co.uk/inheritance1.htm, or by contacting Dan Woodruff on 01206 851112. Also available is an easy to use fact sheet on how to calculate your Inheritance Tax liability.

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--NOTES FOR EDITORS--

Dan Woodruff is an Independent Financial Adviser with Julian Harris Financial Consultants, who are authorised and regulated by the Financial Services Authority.

Woodruff Financial Planning is a firm of Independent Financial Advisers based in Colchester, Essex, and provides financial advice to businesses and individuals on subjects such as investments, pensions, mortgages, protection and taxation.

Contact:
Dan Woodruff
Independent Financial Adviser
PO Box 7527
Colchester
Essex
CO4 5WR
Telephone: 01206 851112
Email: advice@woodruff-fp.co.uk
Website: http://www.woodruff-fp.co.uk Submitted by: Dan Woodruff Add your press release for free.

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