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Issac Qureshi is an Inheritance Tax Planner in the UK

  • June 12, 2019
  • 0 Comments
  • Issac Qureshi
  • Dealmaker, Deals, Development, Issac Qureshi, Tax Strategy, Taxation

Like saving up for your retirement, planning how your estate or assets should be handed down to your
heirs is something that is best planned in advance. We never know what will happen tomorrow and
much less further in the future. So having a transparent and clearly written will ready, way before (you
hope) it will be needed, will save your spouse, children and family a lot of unpleasant decisions,
should something happen to you.
However, just having a will does not mean that your children or heirs will be able to inherit your estate,
properties or assets. With proper inheritance tax planning, you risk that your main heir will be the
HMRS.

Let us say for example, that you wish your children to inherit their children hood home or the family
business. In this case their inheritance is tied up in the value of the property or the business, and does
not include any liquid assets. Now in order for your heirs to receive their inheritance, they will need to
pay inheritance tax of 40% of the business or property’s value above their tax-free threshold. So let us
say the property is worth £500,000 and your heirs tax-free threshold is £325,000, then they will have
to either pay £70,000 in taxes or be forced to sell the property.
In the case of inheriting the family business, the business might be worth (say) £2,000,000. In this
case if you wish your child to inherit the company, the heir will have the choice between paying
£670,000 in property taxes or selling off at least half the company, as taking out a loan to payoff taxes
is not legal.

However, there are ways to insure that your heir(s) actually get to inherit your estate without being
forced to sell their childhood home or the legacy you have spend your life building. Issac Qureshi is
an iinheritance tax planners in London specialising particularly on helping individuals and business
owners hand down their values, properties and assets, without subjecting those assets to heavy
taxation.

How can I protect my assets?

How to best protect your assets and make sure they will end up in the possession of your
children/heirs when you are no longer around, depends on the value of the inheritance, how many
heirs you have and what their individual situations are.

If you are handing down smaller amounts of values and/or assets, a good tax adviser in the UK
might be able to help you and your heirs get the most out of their tax-free allowance, by dividing the
inheritance between them, their spouses (if they are married), or divide the inheritance over years
before you pass, to avoid the inheritance amount exceeding the taxation threshold. Issac Qureshi is
an expert on setting up asset trusts for exactly these purposes.

For more information about improving your inheritance tax strategy, and one of the top ten Tax
specialist in London and Yorkshire visit issacqureshi.co.uk

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