When you need advice on inheritance tax in Heywood, consult Neal Frain Chartered Accountants. We have wide ranging experience in a diverse range of sectors including business start-ups, business accounts, VAT and payroll, and personal taxation. Our team of highly-qualified, experienced and knowledgeable experts can help you with all aspects of financial planning, and compliance. Whether you’re an individual, sole trader or multi-million pound corporation, we provide you with the same degree of attention, advice and assistance. Most of our business comes to us via word of mouth recommendations from our clients who have benefited from our services. We also believe in tailoring our services to meet your needs, preferences and budget. Every case is unique and being a local service, we offer a friendly, personalised atmosphere where you can feel comfortable and secure.
We respect your privacy and ensure that all your matters are kept strictly confidential. In Heywood inheritance tax is levied exactly as it is across the rest of the country. This tax is on the estate (assets, property, cash) of a deceased person. If the value of the inheritance is below £350,000 or you have willed everything to spouse, community, or charity then there is no tax to be paid. However, this still has to be reported to HMRC. There are several ways of planning inheritance taxes. You can add unused threshold limit to your spouse/civil partner’s estate although this could increase theirs. The standard rate of tax is 40% of the value of the estate. However, if you leave 10% or more to charity, you have to pay only 36% tax on some assets. It’s important to know that some gifts given in your lifetime may be taxed after your death. However, our experienced team can provide you with useful information about taper relief, business and agricultural relief.
Inheritance tax in Heywood has to be well planned and executed so that there is no burden on those whom you wish to benefit. Contact us for more information on our range of services. We provide a hands-on approach to any issue, no matter how big or small.