Inheritance Tax threat to Family
The rise in property prices is leading to more and more people falling into the Inheritance Tax trap. For many people their greatest achievement in life is bringing up a family, helping their children and grandchildren to establish themselves and having something to pass to them on when they pass away. Previously Inheritance tax was only a serious problem for the very wealthy – it is now impinging on ordinary people. If people no longer believe there is any point in investing in their future generations because the state will take their wealth then the concept of family is in for further decay.
Inheritance tax also leads to some gross injustices. Daughters who have been carers for an elderly parent for many years finding they have to sell the house they have lived in for many years. Farmers have been traditionally protected to enable them to pass their farms to their children but now even this is under threat.
At Old Mill accountants and financial advisers we have professional staff both on the tax and on the financial services side who can offer personal advice whatever your circumstances. If you have concerns around Inheritance tax ring Catherine Vickery on 01935 709381 to see if Old Mill can help you.
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