There are complex rules surrounding tax relief on some farms, holiday cottages and caravan sites to name but a few of the situations that may affect our clients. This area of the tax system can give rise to unexpected liabilities for the unwary, at Aston Hughes & Co we can provide expert planning advice on the mitigation of potential inheritance tax liabilities. Our services include;
- Planning in respect of the family home
- Ensuring that wills are tax efficient
- Consideration of lifetime gifts
- Ensuring that pitfalls are avoided
- The use of trusts where appropriate
Trusts enable assets to be given away whilst still retaining some control over them. Income can be paid to different persons with the capital ultimately going to other persons.
We also have a vibrant estates department in our Llandudno and Holyhead offices and we are recommended by a number of solicitors across the region to complete estate and trust tax returns for their clients.