If you are having difficulty viewing this email, click here
 |
|
 |
|
 |
Issue 60 - September 2007
![]() |
|
|
|
No one likes paying more tax than we need to but with rising house prices more and more of us are paying unnecessary taxes even after our death. To help you leave more of your hard earned cash to your loved ones we've put together a web chat with Anne Young, tax expert at Scottish Widows who will be happy to answer your questions. Simply click here to ask your question in advance of the live chat next Tuesday or come back later to review all the questions and answers. In the meantime here's our quick guide to IHT and some ideas that may help you minimise the amount your beneficiaries will have to pay.
|
 Inheritance Tax is much talked about but few people really understand how it works or how to mitigate the burden on their families when they die. Perhaps it's because we don't like talking about the morbid subject of death or simply because we think it's all too complicated and costly to avoid paying the tax that most people accept it as a fact of life (or death). But there are a number of things you can do to effectively remove or reduce the burden on your loved ones. To help you understand more we have a web chat on this subject next Tuesday 18th September at 13.00 with Anne Young, tax expert at Scottish Widows. You can post your questions for Anne to answer now by clicking here or simply join in the discussion on the day or come back and review the questions and answers at a later date.
In the meantime here is a quick guide to IHT and a few simple ideas on how to avoid it.
- Plan ahead
The first step is to work out if IHT will apply to your estate and if so how much the liability is likely to be. You do this by working out the value of your possessions (savings, investments, property and personal possessions) and then taking away any debts you have. Don't forget things like ISA's as even though they are tax free in your lifetime they will form part of your estate on death. Also life insurance policies can form part of your estate if they are not written in trust for your dependents and should be taken into account. If the net value is more than £300,000 (£312,000 from 2008 and £325,000 from 2009) then there could be a liability which could be up to 40% on everything above that level.
- Write a will
Making a will is a great start. It defines who gets what and avoids the possibility of your estate being divided up under the rules of intestacy, where even spouses are not guaranteed to inherit everything.
|
 |
2 great reasons to review your live cover today.
Go >>> |
|  |
|
|
|
 |
Compare the market to find the best deal
Go >>> |
|  |
|
|
|
| |
 |
Compare 0% balance transfer cards plus many many more.
Go >>> |
|  |
|
|
|
 |
Get impartial advice from one of our experts
Go >>> |
|  |
|
|
|
|
Life Cube Life Insurance | | | | | | |  | | Compare 200+ life plans in minutes. Life cover from £5 a month. Cheap life insurance quotes. | |
|
Halifax Home Insurance | | | | | | |  | | 35% online discount. Pay monthly at no extra cost! Unlimited buildings sum insured. Up to a 30% no claims discount. 5% discount if you buy buildings insurance. | |
|
|
|
|
Moneynet is a trading name of Sterling Business Consultants Limited of Sussex House, 8-10 Homesdale Road, Bromley, BR2 9LZ. Registered office is 51 Eastcheap, London EC3M 1JP, Reg No: 03165711. Moneynet is authorised & regulated by the Financial Services Authority. This site is intended for UK residents only. Information correct at time of publication.
Click here to unsubscribe from the Moneynet newsletter
|
|
|
|
|
Typical 12.9% APR
