Inheritance & Gift Tax Planning

Inheritance & Gift Tax Planning

Inheritance Tax arises when an individual receives an inheritance of value from another above an allowable threshold after a death. Inheritance Tax is levied on the excess above the applicable threshold, as follows :

Planning for Inheritance Tax liabilities using life assurance can allow for the transfer of wealth to the next generation tax efficiently. Insight Private Clients has the expertise and knowledge of the various legal and tax complexities involved to design and implement a workable solution whereby assets are transferred as required following a death.

Gift Tax Planning

A gift tax is levied and payable by the donee on the taxable value of a gift received, according to the relationship between the donor and the donee, and the thresholds outlined for Inheritance Tax, above. Insight Private Clients understand the complexities inherent in the transfer of wealth by gifts and through our objective and informed advice can provide for mitigation of any gift tax liability that may arise.