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Tax Planning & Trusts

Most tax planning is based upon a basic principle of giving your assets away at least 7 years before you die to save inheritance tax (IHT) or making sure that you have little or no gain for the purpose of capital gains tax (CGT).

Unfortunately, life isn’t quite that simple so instead you need to organise, arrange and plan the way that your assets are owned, the type of assets that you have and how this fits into your plans for the future.

There are many ways that we can mitigate the burden of IHT and CGT, but as with any tax planning there is usually a swap of one liability for another. For example, paying CGT at 20% or 28% instead of IHT at 40%.

There are some basic IHT exemptions and relief available to everyone.

Capital gains tax planning is usually concerned with:

  1. Preserving your principal private residence relief on your home and curtilage, especially if you have had a second property 
  2. Timing of disposal of assets and using your annual exemption 
  3. Identifying and disposing of those assets where entrepreneur’s relief is relevant

Our role at Rogers Legal is to look at where you are and where you want to be. Planning means taking into consideration all of your ideas, fears and dreams and giving you flexibility for changes in circumstances for you and your family.

Please contact Trudy Rogers on 01635 569670 or email on for further information.