In recent years, property prices have pushed through the inheritance tax (IHT) threshold of £325,000, meaning more people are at risk of leaving their families and loved ones with a large IHT bill when they die – with beneficiaries obligated to pay a 40% IHT charge on estates over this threshold.
Shockingly it has recently come to light that 29% of homeowners over 70 hadn’t thought about IHT planning and only 6% knew that personal ISAs are also subject to the 40% IHT bill upon death. But, if you have substantial assets that qualify for business relief, investors may get 100% relief from IHT if you hold shares in qualifying businesses – and have done so for at least two years at the time of their death.
Read more about business relief in this article on Investors Chronicle ‘Cut inheritance tax with business relief investing’
There is an increasing number of people looking to reduce their IHT liabilities, which is why service providers can benefit greatly from using our industry-leading software, LIBRIS Financial. Our asset management software solution, manages clients and automates the allocation of the initial investment, taking into account relevant charges to the underlying investment.
LIBRIS Financial Portfolio Management software is the complete solution even incorporating apps for operating key functions and reporting from tablet or mobile device. It offers an immense range of functionality ready to fit 100% with your individual business process.