Legacy Planning

Passing your wealth down the generations

Bevans Legacy Planning page | NB Financial Solutions | Holding hands

Choosing the right methods to transfer your wealth to your family

The Labour politician Roy Jenkins in 1986 famously said “Inheritance Tax, is broadly speaking a voluntary levy paid by those who distrust their Heirs more than they dislike the Inland Revenue.”

Legacy planning is working out how to pass unused wealth to your children, or future generations, without paying Inheritance Tax. We can advise on the various forms of trusts and investments that are available to reduce the tax on your estate, as well as making sure you are using the various allowances that are available.

Bevans Legacy Planning page | NB Financial Solutions | Holding hands

Choosing the right methods to transfer your wealth to your family

The Labour politician Roy Jenkins in 1986 famously said “Inheritance Tax, is broadly speaking a voluntary levy paid by those who distrust their Heirs more than they dislike the Inland Revenue.”

Legacy planning is working out how to pass unused wealth to your children, or future generations, without paying Inheritance Tax. We can advise on the various forms of trusts and investments that are available to reduce the tax on your estate, as well as making sure you are using the various allowances that are available.

Inheritance tax banding

Inheritance Tax is charged at 40% on assets above your Nil Rate Band, which is currently set at £325,000. It’s called a Nil Rate Band because it is a taxable band with a 0% tax rate.

From 6th April 2017 the government introduced the ‘main residence nil rate band’, which could take some, if not all, of your home (main residence) out of Inheritance Tax. This applies to properties under £2million and where you pass your property to direct descendants. Transfers of property to a Trust do not qualify for this relief.

Bevans Legacy Planning page | NB Financial Solutions | Hand reaching

Tax Year

2017/2018

2018/2019

2019/2020

2020/2021

Main Residence Nil Rate Band

£100,000

£125,000

£150,000

£175,000

Inheritance tax banding

Inheritance Tax is charged at 40% on assets above your Nil Rate Band, which is currently set at £325,000. It’s called a Nil Rate Band because it is a taxable band with a 0% tax rate.

From 6th April 2017 the government introduced the ‘main residence nil rate band’, which could take some, if not all, of your home (main residence) out of Inheritance Tax. This applies to properties under £2million and where you pass your property to direct descendants. Transfers of property to a Trust do not qualify for this relief.

Bevans Legacy Planning page | NB Financial Solutions | Hand reaching

Tax Year + Main Residence Nil Rate Band

2017/2018

£100,000

2018/2019

£125,000

2019/2020

£150,000

2018/2019

£175,000

What we specialise in

Bevans Legacy Planning page | NB Financial Solutions | Protection

Protection

Protecting you and your family
against the unexpected

Bevans Legacy Planning page | NB Financial Solutions | Pensions

Pensions

Bringing your retirement
plans to life

Bevans Legacy Planning page | NB Financial Solutions | Investments

Investment

Making your capital work for
you along the way

Get in touch

At Bevans we provide a personal service building your financial confidence. We’re here every step of the way offering advice to help shape your future, so get in touch with us today and achieve financial freedom.

Telephone

01455 844262

Say Hello

Get in touch

At Bevans we provide a personal service building your financial confidence. We’re here every step of the way offering advice to help shape your future, so get in touch with us today and achieve financial freedom.

Telephone:01455 84426

Say Hello

At Bevans we specialise in providing a bespoke personal service for clients looking for advice on; Investment, Retirement, Savings and Inheritance Tax Planning. Incorporating all these areas allows us to create lifestyle plans for our clients.

Bevans is a trading style of NB Financial Solutions Ltd

NB Financial Solutions Ltd is authorised and regulated by the Financial Conduct Authority (FCA)

Registered in England and Wales No. 10095233

Registered Office

4 St Mary's Mews

Barwell

Leicester

LE9 8AY

Telephone: 01455 844262

At Bevans we specialise in providing a bespoke personal service for clients looking for advice on; Investment, Retirement, Savings and Inheritance Tax Planning. Incorporating all these areas allows us to create lifestyle plans for our clients.

Bevans is a trading style of NB Financial Solutions Ltd

NB Financial Solutions Ltd is authorised and regulated by the Financial Conduct Authority (FCA)

Registered in England and Wales No. 10095233

Registered Office

4 St Mary's Mews

Barwell

Leicester

LE9 8AY

Telephone: 01455 844262