Lord Jenkins is credited with saying that:-

“Inheritance tax is only paid by those who distrust their heirs more than they the dislike the government”

Inheritance Tax is commonly referred to as the 'Voluntary' tax because there are many strategies available to legitimately avoid or reduce the eventual tax on your estate.

Unfortunately, many people fail to make use of these strategies because they mistakenly believe that IHT planning is either costly, or requires the total loss of control over their assets. However, it may require the re-positioning of assets to minimise their exposure to inheritance and other taxes, whilst making full use of those strategies available.

Simply, inheritance tax can be mitigated in one of the following four ways:-

1. Spend it
2. Give it away, directly, or in Trust.
3. Insure against the IHT liability.
4. Reposition your estate

Accord will analyse your inheritance tax position and make written recommendations as to the most appropriate strategies to put in place based upon your particular situation, your likes and dislikes, in order to reduce or minimise an existing or future IHT liability.