Safeguarding Our Assets

This is something we all have to consider – and the greater the assets, the bigger the potential problem for our beneficiaries. With rises in property prices over recent years, more of us than ever are falling within the Inheritance Tax (IHT) band and you might be concerned that a high proportion of your assets will be lost to future generations through Inheritance Tax. A rate of 40% Inheritance Tax will be payable on assets above the nil rate band.

There are many ways of reducing your taxable estate. However, some of these can be expensive, complicated and result in you losing the benefits of the assets.

Did you know?
Investing in a portfolio made up of qualifying stocks quotes primarily on the Alternative Investment Market (AIM) could reduce your potential liability to IHT after two years.

How does it work?
Business Relief (formerly known as Business Property Relief) is a statutory tax relief introduced by the UK Government in 1976. It is an incentive for investing in specific types of trading companies including companies quoted on the Alternative Investment Market (AIM). Once Business Relief qualifying assets are held for a minimum of two years, they are exempt from Inheritance Tax (providing they are still held at the time of death). If the two-year holding period is not met a surviving spouse can inherit the portfolio without restarting the required holding period.

Benefits of AIM
• You retain full control of the income generated by the portfolio and the ability to liquidate the portfolio at any time if circumstances change.
• You can also purchase AIM shares through your ISA, which will be free from Capital Gains Tax, Income Tax and Inheritance Tax (if held for at least 2 years) – making AIM one of the most tax-advantageous markets.
• Once qualifying AIM shares are held for a minimum of two years, they are exempt from IHT (providing they are still held at the time of death).

Want to find out more?
Then please contact Russell Tonks of Strategic Solutions Chartered Financial Planners on 07889 061158 or [email protected]

It should be noted that investments in unquoted companies involve a higher degree of risk and a portfolio of this type will not be suitable for all investors. You should seek professional independent financial advice before investing.

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