We work hard throughout our lives and pay our taxes. When we die, our beneficiaries have to pay 40% inheritance tax, over and above the nil rate band.

Nil rate bands:

• Single person: £325,000†
• Married couples and civil partners: £650,000†

With careful planning, there are various ways to reduce your inheritance tax liability, or even mitigate it entirely. 

MLP Wealth uses different strategies to plan in this area, for example:

• Investments that mitigate IHT
• Trusts
• Protection
• Gifts
• Self Funding Packages

† Please note there have been recent changes to legislation which will allow you to pass on more via your main residence from 2017