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Tax Planning Solicitors

We can help you make the most of your wealth by providing strategic tax planning advice. With the average value of estates rising due to increasing property prices, more and more people are being caught out by Inheritance Tax and Capital Gains Tax. Make your estate as tax efficient as possible with the assistance of our expert tax planning solicitors. 

At Whiskers Solicitors, we provide comprehensive legal advice to individuals across Harlow and Epping in Essex and Bishop’s Stortford in Hertfordshire.

Our services cover all aspects of wealth and estate planning to allow you to maximise your tax efficiency during your lifetime and leave as much money to your loved ones as possible after you pass away.

For expert advice from our tax planning solicitors, get in touch with:

How our tax planning solicitors can help you

We can offer you tax planning advice to help you maximise your wealth and minimise tax liability both during your lifetime and for your loved ones after you die.

Our tax law experience includes Inheritance Tax planning and Capital Gains Tax Planning.

Tax is an active area of law and the most successful estate plans are regularly reviewed and updates over time to remain as tax efficient as possible. We therefore aim to provide a warm, welcoming environment and personalised service to forge long-term connections with our clients.

Our Inheritance Tax advice includes:

  • Creating a tax-efficient Will
  • The nil rate band (your tax-free allowance) and residence nil rate band for passing on property to descendants
  • Leaving money and property to your spouse or civil partner
  • Balancing Inheritance Tax liability with potential Capital Gains Tax liability
  • Lifetime gifting
  • Setting up trusts
  • Leaving money to charity
  • Using Deeds of Variation to gift inheritance
  • Domicile (tax liability when you live or spend considerable time outside of the UK)
  • Agricultural Property Relief
  • Business Property Relief

Our Capital Gains Tax advice includes:

  • Tax free allowances
  • Disposing of assets during your lifetime tax-efficiently
  • Capital Gains Tax on residential property
  • Setting up and managing trusts
  • Balancing potential Capital Gains Tax liability with Inheritance Tax liability
  • Using Deeds of Variation to gift inheritance
  • Reporting and paying Capital Gains Tax
  • Record keeping and filing tax returns

We can also provide advice about other related lifetime planning matters such as:

How does Inheritance Tax work?

Inheritance Tax is a tax on the money, property and belongings (collectively referred to as the estate) of someone who has died domicile in the United Kingdom.

Although it is traditionally seen as a tax for the wealthy, more and more people are affected by Inheritance Tax every year, mainly due to rising property prices. If your estate is worth more than your tax-free threshold (currently £325,000) after you die, your loved ones will have to pay the tax out of your estate before they can receive their inheritance.

It is therefore important to consider whether you will be liable for Inheritance Tax and what you can do to minimise your liability to ensure your loved ones can inherit as much as possible.

That is where our Inheritance Tax solicitors come in. We can help you examine your estate and take full advantage of your tax-free threshold and additional reliefs and exemptions.

How does Capital Gains Tax work?

You must pay Capital Gains Tax when you sell (or in some circumstances, gift, swap or get compensation for) an asset and it has increased in value. The tax is payable on the increase in value.

There are many exemptions to Capital Gains Tax, including your home if it is your primary residence. You also have a tax-free allowance (currently £12,000 or £6,000 for trusts) and do not have to pay any tax until your gains go above this level.

We can provide detailed advice about disposing of assets in your lifetime as tax efficiently as possible and the exemptions available to you.

Where relevant, we will also advise about Capital Gains Tax and its relationship with Inheritance Tax. For example, when you sell assets or make gifts during your lifetime, in the process of setting up or managing a trust, or if your beneficiaries sell inherited property.

Why choose our tax planning solicitors

We are a firm of experienced solicitors who provide tax planning advice to clients across Harlow and Epping, Essex and Bishop’s Stortford, Hertfordshire. Here are just a few of the reasons our clients choose to instruct us:

  • Personal, tailored advice – we adapt our services carefully to suit each of our clients’ individual goals. Your life and estate is unique so we don’t use a “one size fits all” approach to tax planning. We will carefully review your situation, help you structure your estate as tax efficiently as possible, and ensure you are taking advantage of the tax reliefs and exemptions available to you.
  • Professional expertise – we are dedicated to maintaining the highest standards of advice through continued professional development. Amongst our capable team, Gerry Smith is a member of STEP (the Society of Trust & Estate Practitioners) and Liz Middleton is a member of the Law Society’s Private Client Section.
  • Accessible environment – we are a law firm focused on making our legal services accessible for every individual, regardless of personal circumstances. So, if you have any disabilities or individual needs, please get in touch for a confidential discussion about how we can make your experience with us a comfortable as possible.

Get in touch with our tax planning solicitors in Harlow, Epping and Bishop’s Stortford

For expert advice from our tax planning solicitors, get in touch with: