Losing a family member can be a very distressing time, especially when this comes suddenly and is unexpected.
One of our dairy farming clients faced an inheritance tax bill of over £220,000 on their fathers estate which included 2 working farms. The sons of the deceased individual came to Armstrong Watson as their trusted advisors to review the correspondence they had received from their solicitors and H M Revenue and Customs.
We identified that the inheritance tax bill was incorrect as Business Property Relief was available which ultimately reduced the liability by £160,000!!
Are you prepared for the future? Do you understand the Tax payments you are making?
Make sure you get in touch with one of our specialists today to see how we can help you.