Tax planning news

Changing the way we think about IHT

2 April, 2007

The Legal Services Network (LSN) will operate in seven UK cities – Birmingham, Plymouth, Glasgow, Manchester, Kent, Nottingham and Newcastle – and offers advise on how to eradicate or minimise IHT incurred by beneficiaries.

Uniquely combining the financial planning expertise of a financial adviser and the capabilities and legal knowledge of a solicitor, the LSN covers all bases for someone keen to lessen the impact this costly tax could have.

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The Chancellor has announced plans to increase the IHT threshold to £350,000 by 2010, yet the surging house prices mean that this is little relief for Brits – especially as up to 75 per cent of the population either have no will to speak of, or one which is out of date and invalid.

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Bill Stewart, managing director of LSN said: “LSN is passionate about making sure that hard-earned wealth passes in the appropriate manner upon death. All too often families are forced to hand over a high proportion of an estate to the Chancellor simply because they did not receive the right advice about IHT and wills.

“We believe that this tax is punitive and insensitive, and while many may not feel comfortable thinking about their mortality, it is becoming increasingly important. LSN has structured itself strategically, with offices throughout the key regions of the country, to ensure that our services are accessible, regardless of where people live in the UK.”