Tax Planning for Life Events

Most life events will have some tax consequence.  We recommend that individuals review their tax exposure at every major life events such as marriage, death, ill health, redundancy, retirement, starting a business, selling and buying assets and investing.

A detailed tax plan may be required for high value transactions. For example buying, selling and gifting of property/business/farm, to third parties or siblings.

Planning for the tax cost of inheritance or asset transfers can save thousands in tax, which might allow the transferee to keep the asset or gift instead of having to sell the asset to pay the tax bill. For example solicitors may find themselves dealing with inheritance and succession tax liabilities in wills, these tax liabilities can often be avoided in certain circumstances, an independent specialist tax opinion can always be requested if there are significant amounts of tax.