Maximise ISA Tax Efficiency
- On March 8, 2019
- By GrowthInvest Admin
A growing proportion of the population is finding that unless they take appropriate action, Inheritance Tax (IHT) will reduce the financial legacy they leave for their loved ones.
IHT is potentially chargeable on an estate worth over £325,000. An estate is the total value of all one’s assets including property, investments and cash. IHT is deferred when an estate is left to a spouse or civil partner, but the next beneficiaries will be responsible for settling that IHT.
This can be a problem, particularly if those beneficiaries do not have access to the capital required to pay the liability. While stocks and shares can be sold, other assets – like artwork or property – can have emotional as well as financial value and are less liquid and often harder to sell.
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