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| Name | 6 Inheritance Tax Planning Tips You NEED to Know! Master Your Legacy |
| Video Uploader | Video From Simon Misiewicz US & UK Taxes |
| Upload Date | This Video Uploaded At 26-06-2024 13:39:00 |
| Video Discription | Inheritance Tax (IHT) can be a significant burden on your loved ones if not managed properly. In this video, I delve deep into 6 crucial tips that will help you effectively plan and minimize your IHT liabilities. Key Dates: Understanding the timeline for making gifts and updating legal documents is crucial. For example, gifts made within 7 years of your death may still be subject to IHT, so planning ahead is essential. Tax Forms: Certain tax forms like the IHT400 are necessary when reporting the value of your estate to HM Revenue and Customs (HMRC) in the UK. I'll guide you through what these forms entail and how to navigate them effectively. Two Examples: I'll illustrate these tips with real-life examples of how families have successfully navigated IHT challenges by updating their wills, utilizing pension nominations effectively, and having open discussions about legacy planning. By the end of this video, you'll have a clear roadmap to: Update your will to reflect your current wishes. Nominate beneficiaries for your pension to maximize tax efficiency. Initiate family conversations about legacy planning and IHT implications. Strategically make gifts within the 7-year window to minimize IHT. Conduct a thorough valuation of your assets to understand your potential IHT exposure. Optimize your pension contributions as a powerful tool for IHT mitigation. Don't let IHT erode your hard-earned assets meant for your family's future. Watch this video and take control of your financial legacy today! Hashtags: #InheritanceTaxPlanning #EstatePlanning #LegacyPlanning #TaxEfficiency #FinancialPlanning #WillWriting #PensionNomination #GiftsAndIHT #HMRC #TaxForms #IHT400 #PensionContributions Use our free US/UK tax calculators: https://www.optimiseaccountants.co.uk Need to file UK or US tax returns? Let us know here https://www.optimiseaccountants.co.uk/become-a-client/ Transfer US$ and UK without the high commission and fees: https://www.currenciesdirect.com/register?afflno=0202110000646508 Book UK tax consultations: Use code YouTube15 to get a 15% discount https://optimiseaccountantsltd.as.me/optimiseaccountantstaxconsultation Get an US & International tax advice - Use code YouTube15 to get a 15% discount: https://optimiseaccountantsinc.as.me/schedule.php?appointmentType=category%3AUS%2FInternational Get UK / US Property Investment Advice: https://optimiseaccountantsltd.as.me/property-investment-advisory-services US specific support Open a UK or US bank account: https://wise.prf.hn/click/camref:1100loBZy Apply for an Individual Tax Identification Number (ITIN): https://www.optimiseaccountants.co.uk/knwbase/itin-form-w7/ File backdated US taxes to the IRS: https://www.optimiseaccountants.co.uk/irs-streamlined-foreign-offshore-procedures-sfop-eligibility-for-back-taxes-fbar/ Get a Cost Segregation study on US Real Estate Property: https://zjf538.isrefer.com/go/csf/Optimise/ Set up a US LLC company: https://www.optimiseaccountants.co.uk/tax-benefits-of-forming-a-limited-liability-company-llc-in-nevada-and-wyoming-for-foreign-investors/ Set up a US C Corporation: https://www.optimiseaccountants.co.uk/services/everything-you-need-to-know-about-starting-your-own-c-corporation/ Want reliable UK/US pension advice: https://planfirstwealth.com/ UK Specific Set up a UK limited company: https://www.optimiseaccountants.co.uk/what-is-a-uk-property-investment-company/setting-up-a-property-investment-company/ Open a UK business and personal bank account and get £50: https://www.tide.co/partners/optimise-accountants/ Get a Stamp Duty (SDLT) refund: https://www.optimiseaccountants.co.uk/stamp-duty-on-buy-to-let-properties/sdlt-refunds/ Claim Capital Allowances on Furnished Holiday Lets (FHL): https://www.optimiseaccountants.co.uk/knwbase/capital-allowances-rental-property/ |
| Category | Education |
| Tags | Simon Misiewicz | Optimise Accountants | UK Tax | US Taxes | 6 Inheritance Tax Planning Tips | updating wills | pension nominations | legacy planning discussions | gifts and inheritance tax | asset valuation for IHT | pension contributions for tax mitigation |
