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Case Study – Saving on Inheritance Tax Liability

We had an elderly client who had annual income of several hundred thousand pounds together with a capital gain of in excess of £100,000. Without any planning our client would have faced a tax bill of many tens of thousands of pounds together with a potential Inheritance Tax liability of 40% on the amounts that remained after the payment of the tax.

Together with our Financial Services arm Wilds Financial Planning, we advised the client on the availability of suitable Enterprise Investment Schemes that matched the client’s risk profile and by investing £150,000 in one of their lower risk profiling investments the client was able to get an immediate saving of £87,000 being £45,000 income tax and £42,000 capital gains tax. In addition had the remaining £63,000 stayed in the client’s Estate and he passed away there would have been a further £25,250 of Inheritance Tax to pay, whereas if our client survives two years after making this investment the investment is Inheritance Tax free. Thus, we are putting our client’s Estate in a position where they would receive a £150,000 as against £46,800 had nothing been done.