Inheritance Tax

Where a business is passing to the next generation – children –either by gift (when the parent retires for example) or inheritance (when the parent dies), the tax liability falls on the shoulders of the beneficiary. This could result in the sale of all or part of the business.

Where the value of the inheritance is likely to exceed the current tax free threshold for each child in relation to all gifts & inheritance, then consideration needs to given to planning for the eventual transfer and potential tax liability involved. Otherwise the tax liability could necessitate the sale in order to pay tax.

If you would like to protect your beneficiaries against a large tax liability contact John, Lisa or Annette.