If all your assets - including your home - are worth £325,000 or over, you could be caught out by Inheritance Tax. It's more and more likely that you will need to consider inheritance tax in your financial plans. Although it used to affect only the very wealthy, a general rise in house prices over the past decade means that more people have fallen into the inheritance tax bracket.
Inheritance tax is payable if the value of your estate exceeds £325,000 (in the tax year 2012/13). Tax on any part of your estate above this threshold may be charged at 40%. Your estate includes everything you own, less any outstanding debts, when you die. Even if you give away some of your assets during your lifetime, such as property or money, they may still be included in your estate if they are given away within 7 years of your death.
There are ways that you can reduce the potential inheritance tax bill, or even eliminate it altogether, so do make an appointment with our team and talk to us for expert advice.
The needs and requirements of Trustees can differ from those of private individuals. The legal requirements of the Trustee Act 2000 places a duty upon Trustees to seek advice from a suitably qualified professional in respect of investments held. Do pick up the phone and talk to us, we are here to help.
Grain merchants and farmers, Burstwick, East Yorkshire:-Jeremy Saunt, Director at Johnson and Saunt
"We have been clients of Dutton Moore for more than 20 years – they carry out all our accountancy work and business advice, their service and attention to detail is outstanding."
"Dutton Moore are an excellent provider of financial services for significant Hull based businesses such as Smales. We have worked with the firm for many decades and are guaranteed sound financial and business advice, alongside the general accountancy services that they provide. What is key for my Company is the direct involvement of the partners with the Smales management."-Robin Orr B.Com; C.A; C.T.A, Financial Director, F.Smales & Son (F.M.) Ltd, Hull
"Having worked with Dutton Moore for many years now, we have always found the service extremely professional, prompt and courteous. As a growing business over the years their advice has been exemplary and without their valuable assistance in accounting and strategic planning we would have found the many transitions of growth a lot more challenging."-Richard Spencer, Commercial Director, Spencer Signs Ltd, Hull
We are delighted to continue to support the Ron Dearing University Technical College (UTC) after its official opening by new Patron the Rt Hon Alan Johnson last week. Dutton Moore has been involved in its start-up over the last few years and now Managing Partner Tony Bullock sits as a Guarantor for the new school in Kingston Square, Hull, which opened its doors to...
Katie Moore is the latest Moore family member to join our team – making her the fourth generation to work at the practice. Katie, 19, joins her father Jonathan and uncle Chris, who are both Partners and her grandfather Dudley Moore who retired after many years at the practice and still remains part of the firm as a consultant. The practice celebrated its...
As most people head back to work today, we would like to take this opportunity to wish you all a very Happy New Year from everyone at Dutton Moore! With best wishes for a happy, healthy and prosperous 2018. ...