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Estate & Inheritance Planning

Estate and inheritance planning tends to eliminate problems over administration and maximises the value of an estate by reducing tax and other expenses, such as:

  • Inheritance tax
  • Corporation tax
  • Income tax
  • Capital gains tax

Beacon Wealth Management Ltd provides you with the specialist financial planning skills needed to allow for, when the time comes, a smooth, tax efficient transition of your wealth.  Whilst in the meantime allowing your hard earned money to benefit your lifestyle, family and business.  We understand you work hard for your money and want to defend your wealth.


To protect your loved ones you must plan for the future by:
  • Making a Will
  • Checking whether you have an Inheritance Tax Liability
  • Take advantage of exemptions
  • Make gifts out of excess income
  • Identify assets that can be given away free for Capital Gains Tax
  • Take out life cover
  • Look into business property relief
  • Consider making gifts to charity

At Beacon we constantly keep clients updated with regular phone calls, meetings and reports to let them know exactly what is going on.  You can choose how detailed this information is and how regularly you would like us to contact you.  Plans are tailor made and designed around you.  We put our clients first. 

Inheritance Tax

Inheritance Tax

Tax Nil Rate on Death                          2021/22                              2020/21

Nil                                                           £0 – £325,000                     £0 – £325,000

40%                                                        Over £325,000                    Over £325,000

Lifetime chargeable transfers to most trusts above the nil rate band are taxed at 20%. All other lifetime transfers are Potentially Exempt Transfers and will not be chargeable assuming the donor survives 7 years.

Inheritance Tax

The transferable allowances regime, where the unused nil rate band of the first deceased spouse can often be passed to the surviving spouses, gives an effective double nil rate band for most married couples.

Main Residence Nil Rate Band

2020/21                                2021/22

£175,000                              £175,000

As with the nil rate band the surviving spouse of a marriage can have a double main residence nil rate band, giving a married couple the ability to pass down assets of £650,000 + £350,000 = £1,000,000, free of Inheritance Tax. To qualify for the main residence nil rate band the property must have at some point been the deceased’s private residence and must be left to a lineal descendant (child, grandchild etc.). If the deceased’s estate value is above £2m then the main residence nil rate band will be tapered at a rate of £1 for every £2 above the £2m limit. You can apply for downsizing relief for property downsized after 8th July 2015. (Amended 3rd March 2021)

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