Inheritance Tax is commonly referred to as being a voluntary tax, as good financial planning can often remove any requirement for it to be paid.
However, the aforementioned good financial planning must be addressed as early as possible. Failure to begin the planning well in advance can lead to your loved ones seeing a significant portion of their inheritance disappear.
The majority of Acuma clients are those who live, work, retire and reside outside their country of domicile. With inheritance tax, it is important to understand in many cases, that by simply living overseas or outside your country of domicile, you are not necessarily removing future inheritance tax liabilities.
Inheritance tax planning is always undertaken on a case by case basis, with several individual circumstances being considered by our advice and taxation specialists.