Where do you go when looking for experience, qualified London tax advice?
— To a professional tax specialist with a long track record of helping people in the same situation as you manage and save on their tax payments. If you know someone who had their tax strategy improved by a tax professional it can be a good idea to ask around before making a decision. If you don’t, then go for someone with a reputation for being honest, professional and get results — like Issac Qureshi.
Qureshi ranks among the top inheritance tax planners in London, because of his vast experience implementing taxation strategies for individuals and organisations. And because of his deep knowledge of UK tax law and advanced principles compliant with the complex regulations in the field.
Among Issac Qureshi’s specialities is protection of assets for wealth preservation and inheritance purposes. What many don’t realise when planning to leave their assets, estate, and valuables to their children or other next of kin, is that it can be very expensive to inherit due to the high UK inheritance tax bill. More often than most people think, heirs are forced to sell the family home when their parents pass away, or sell off the family business (or part of it) to pay the inheritance tax.
However, there are ways to secure that the assets and property you leave to your next of kin will actually go to them after your passing.
How can I protect my assets?
As a tax advisor, Issac Qureshi has years of experience guiding individuals and business owners on exactly these matters. The most common and effective solution is using an inheritance trust. While British tax law is very strict and difficult to (legally) get around when it comes to inheritance, asset trusts are one of the few ways you have options other than leaving a significant part of your estate to the HMRS.
The way an asset trust works is that you place the assets you want to preserve in the “ownership” of the trust. The trust is an independent legal entity and since it is not a natural, taxable subject, i.e. a person, it is not subjected to pay capital gains tax or property tax like if you keep them as part of your own taxable possession.
Does that mean assets placed in a trust is lost?
Of course not, you will remain in control of the trust and what happens to your assets. But in the eyes of the HMRS (and creditors in case of a divorce, bankruptcy, etc.) those assets are not your possession. This is a 100% legal strategy for protecting your assets from taxation as long as the assets remain in the trust.
What benefits do an asset trust give in relation to inheritance?
We never know exactly when we are going to pass, it can happen suddenly or years in the future. So what happens with your assets between the time you acquire them to your children inherit them? They are often slowly but steadily eroded by taxes. But protected in a trust, they will maintain and appreciate in value until the day your heirs are ready to accept their inheritance.
For more information about improving your tax strategy, and one of the top London tax advisers visit IssacQureshi.co.uk