Deeds of variation
Within the two years following someone’s death, there are a few steps that can sometimes be taken to minimise inheritance tax that is payable on the estate.
A deed of variation is a tool which enables the beneficiaries of an estate to adjust the distribution of assets in a more tax efficient way.
As with all tax planning, there is a complicated set of rules about what is and is not allowed and care is needed to ensure that it does not have unintended consequences.
For any estate over the inheritance tax threshold, it is advisable to speak to us to ensure that the estate is administered in the most tax-efficient way possible.
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