Inheritance

Inheritance advice from experts in Cardiff, Newport, Swansea and Bristol.

For all matters concerning your inheritance, look for guidance and assistance from the experts at JWA Financial Planning.

Preserving your Wealth – Tax, Wills & Trusts 

Having worked for many years you want to know that your wealth will be preserved for the benefit of your loved ones and those you care about. 
  • There are many considerations including 
  • Deciding who will inherit and making a will
  • Ring-fencing your home and other assets
  • Reducing inheritance tax
Inspire is JWA’s sister company. Inspire specialises in the areas of financial planning that are not presently regulated by the FCA.

Inspire works with skilled legal advisers to prepare a complete suite of Estate Planning and Asset Protection services to protect all aspects of your estate. 

Concerned with protecting your wealth and passing it on to the next generation? Click here to request a confidential chat with an Estate Planning specialist adviser. Its free and there's no obligation. 
Inspire
Tax and Estate Planning

making a will

Concerned with protecting your wealth and passing it on to the next generation? Click here to request a confidential chat with an Estate Planning specialist adviser. Its free and there's no obligation. 

Leaving a will behind will make things much easier for your loved ones in the event of your death. It is a prudent thing to do as otherwise, the whole process can take a great deal of time and it could well be stressful for everyone involved. 

In the absence of a will, all your possessions will be shared as per the law, which may not be how you want things to be shared. So making a will is the best way to ensure your wishes are carried out.

Will I have to pay IHT?

Inheritance Tax or IHT is basically a tax levied on the belongings of someone who has passed away and it covers money, property and other possessions. However, there are instances where there is no need for the tax to be paid.
  • The overall value of the estate is below Nill Rate Band (NRB)
  • Everything above the threshold is left to the spouse or civil partner
  • Everything above the threshold is left to an exempt beneficiary like a charity organisation

Inheritance Tax Service – reducing your IHT liability

However there are some other things you can do to ensure you don’t pay too much IHT:

You can Gift money or assets to family or others – as long as you survive seven years after the gift, then the value of that gift is no longer included in your estate for IHT purposes. You can Place your assets in Trust – Inspire can advise on this complex area.

You can Invest to obtain IHT Relief by using specialist investments such as an EIS to place your investment capital outside your estate for IHT proposes.

Enterprise Investment Scheme - EIS

EIS is a tax efficient investment vehicle that can provide up to 100% relief from inheritance tax on the value of your investment provided you have held the investment for two years and provided you hold the shares at the time of your death.

An EIS can also provide up to 30% income tax relief on the value of your investment 

  • EIS is a tax relief scheme devised by the UK government to promote investments in startups and upcoming businesses.
  • EIS is a very high risk type of investment but is appropriate for some people depending on their individual financial circumstances and their attitude to investment risk. 
  • EIS investors have access to a more diverse set of funds, usually in early stage businesses. 
Note: The value of an investment, and any income from it can fall as well as rise and you may not get back the full amount you invest.
EIS carries the additional risks that legislation could change in the future, affecting the reliefs available.

JWA advisers have the expertise to advise on EIS investments and to help you make the choices that are appropriate to your circumstances. JWA works with expert partners who are leaders in this type of investment and who have the necessary resources and experience in this specialist area.

Click here to talk to one of our advisers about our Inheritance Tax Service

Contact

For PROFESSIONAL INHERITANCE advice, give us a call today on   

Technology Business Centre,
2 Alexandra Gate,
Ffordd Pengam,
Cardiff,
CF24 2SA
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