Here are the
answers to some
commonly asked
questions
-
How do I cut a potential inheritance tax bill?
Each UK resident has a Nil Rate Tax Band of currently £325,000 if the estate exceeds this on death the amount over the nil rate band taxed at 40%. There are several different ways to reduce your Inheritance Tax Bill:
- Make outright gifts.
- Set up a trust.
- Keep your assets while reducing your estate.
- Managing Inheritance Tax without making gifts.
- Raising debts against the estate for example an equity release mortgage.
- Or simply accept the tax and hold a life assurance policy in trust to allocate funds to this.
-
What is a capital repayment Mortgage?
A repayment mortgage is a term generally used in the UK to describe a mortgage in which the monthly payment will repay the capital amount borrowed as well as accrued interest, so that the amount borrowed decreases throughout the term and by the end of the loan term has been fully repaid.
Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Debt Consolidation: Think Carefully about securing other debts against your home. Your Home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
