PCEB Webinar – Wealth Transfer & Inheritance Tax Planning

In our first webinar of 2023, we look at effective wealth transfer, and the associated inheritance tax planning opportunities to be aware of.

For every business owner and entrepreneur, there will come a time when you start thinking about the future, and how your assets and wealth can be passed effectively to future generations. An effective wealth transfer plan can help you achieve this and secure your legacy.

As life expectancy increases in the UK, financial products and wealth transfer strategies have also become more flexible to handle changing circumstances. How do you identify the best financial products to suit your stage of wealth transfer planning, and the inheritance tax opportunities that may benefit you.

Join us for this webinar, in which we discuss the stages of wealth transfer, and creating a strategy with the right financial products that will help you meet your goals.

Watch the webinar in full below

Key points in this webinar:

• Inheritance Tax – the basics
• Inheritance Tax Planning – some ideas
• How financial products are structured to aid wealth transfer
• Stages of wealth transfer and planning opportunities
• Choosing the right financial products

Speakers

• James Kipping – Tax Partner, MHA
• Patrick King – Tax Partner, MHA
• Dominic Thackray (DipPFS) - Financial Adviser, MHA Caves Wealth

Click here to download a copy of the webinar slides

Risk Warnings / Important information you should read:

MHA Caves Wealth is authorised and regulated by the Financial Conduct Authority (FCA), Financial Services Register number 143715 and is a legally independent financial service and wealth management business who alone takes full responsibility for the advice they provide.

This communication is for general information only and is not intended to be individual investment advice, recommendation, tax or legal advice. The views expressed in this article are those of MHA Caves Wealth or its staff and should not be considered as advice or a recommendation to buy, sell or hold a particular investment or product. In particular, the information provided will not address your personal circumstances, objectives, and attitude towards risk. Therefore, you are recommended to seek professional regulated advice before taking any action.

Key Risks: Capital at risk. Past performance is not a guide to future performance. The value of an investment and the income generated from it can go down as well as up, and is not guaranteed, therefore you may not get back the amount originally invested.

Investment markets and conditions can change rapidly.

Investments should always be considered long term.

This Information represents our understanding of current law and HM Revenue & Customs practice as at January 2023.

Tax assumptions and reliefs depend upon an investor’s particular circumstances and may change if those circumstances or the law change.

Estate Planning and Business Relief Investments

Tax and Estate Planning Services (including Trusts) are not regulated by the Financial Conduct Authority.

Business Relief schemes are high risk investments and there may be no market for the shares should you wish to dispose of them. You may lose your capital. Certain investments carry a higher degree of risk than others and are, therefore, unsuitable for some investors.

• The tax treatment depends on the individual circumstances of each client and may be subject to change in future.
• There are a number of risk considerations that need to be taken into account. It is important that you are aware of these. 
• Investments made by the Product Provider are into unquoted companies. These are deemed to be higher risk than companies listed on the London Stock Exchange Official List. You could lose some or all of your money if the investment falls in value or the company fails.
• Past performance is no guide to future performance and there is no guarantee that the investment objective will be achieved. 
• There is no guarantee of the level of capital gains or the income that will be generated by this investment as this will depend on the underlying performance of the investee companies.
• Investments in shares in unquoted companies are not readily marketable and the timing of any realisation cannot be predicted.
• This type of investment is designed to be held until death, as investments in qualifying companies must be held for at least two years (and at the time of death) in order to be potentially eligible for business relief. The Product provider will make investments into companies that it reasonably believes to be qualifying investments for BR at the time of purchase but cannot guarantee that any such investments will remain qualifying. 
• The relevant assets still form part of your estate and therefore are taken into account for residence nil rate band purposes i.e. they count towards the £2m taper threshold.  
• The investment will not be exempt from IHT in the event of your death within the first two years. 
• Any capital withdrawals will no longer qualify for BR and therefore lose any IHT exemption.
• Rates of tax, tax benefits and allowances are based on current legislation and HM Revenue & Customs practice. These may change from time to time and are not guaranteed. In this case, the IHT relief available on this investment may be lost. Changes in law can have retrospective effect.
• This type of investment is more suitable as an inheritance tax planning tool rather than an investment in its own right. If, in future, the Government was to abolish Business Relief, you could be left with a potentially unattractive asset.