Business Relief is a useful form of inheritance tax relief that can help you pass on more of your wealth to loved ones.
You’re never too far away from a significant life event. Whether it’s buying a new home or investment property, welcoming a new addition to the family or preparing for retirement, it pays to be prepared.
Having a wealth plan that is built around your needs and life goals, and adapts as life changes, can help you achieve your personal and financial ambitions with confidence.
But what does this look like in practice?
Below is an example of how RBC Wealth Management helped a client, who was recently widowed, reduce her inheritance tax liability (IHT) by up to £1.2 million, enabling her to pass on more of her wealth to her children with peace of mind.
As the case study above demonstrates, making investments that qualify for BR is a valuable estate planning strategy, enabling you to minimise your inheritance tax bill and pass on more to your loved ones.
By investing in companies that qualify for BR, you don’t have to gift your money away; can grow your inheritance pot; and free it of inheritance tax more quickly than gifting or using a trust.
RBC Wealth Management and its chartered Wealth Planning team works closely with third-party providers of non-AIM BR investments to provide clients with access to non-AIM BR portfolios. This enables clients to invest in portfolios with a social value, such as renewable energy, health care, and care homes.
Learn more about how to create a wealth plan here.
Business Relief investments are higher risk investments. They are only suitable for UK resident taxpayers who can tolerate higher risk and have a suitable timeframe for investment. Investments may fluctuate in value significantly and be more difficult to sell than shares listed on the main market. Tax relief cannot be guaranteed and tax rules are subject to change. This case study does not constitute personal advice and tax advice should be obtained from a personal tax advisor.
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