Mirandus Accountants is an expert accounting and chartered tax advisory practice based in London and Edinburgh. We specialise in meeting the needs of private clients and their businesses.
Visit our Mirandus Wealth site for your financial planning. If you have pension, investment, protection or mortgage needs, we can help.
Estate planning is just that — it’s all about preparation now to help manage any future tax bills experienced during your lifetime or for your loved ones once you have gone. Estate planning gives you the control and peace of mind that your assets are protected and that you are minimising your inheritance tax liability - and sometimes avoiding payment altogether - because you have taken the time to plan and prepare for the future.
If you have assets, over and beyond your main home, and have other investments in the UK or abroad, whether in property, shares or other investment strategies, then estate planning is something you should
A Trust is a similar to a will but gives protection and control over a specific asset such as money, investments, land, or property, and also during your lifetime.
There are also opportunities for inheritance tax efficiencies when setting up trusts, as well as protecting assets for vulnerable loved ones, and having a say on who inherits your estate and when.
You can set up a trust at any time, or indeed write one into your will.
The tax laws surrounding trusts are complex, especially concerning inheritance tax, and if not set-up correctly, could incur unnecessary tax charges. We can help advise if a trust structure is a suitable solution for you, or if better alternatives are available.
Inheritance Tax (IHT) can significantly impact the financial legacy you plan to leave to your loved ones once you are gone. There are various IHT allowances available to you to make use of during your lifetime as well as tailored strategies to help mitigate the IHT bill left for your loved ones. As the tax-free IHT thresholds have been frozen at such a low level for some time, more of us are now having to consider inheritance tax planning in our lifetime.
We call IHT a tax of choice. It is possible to reduce or eliminate your IHT liability altogether in certain circumstances, but you need to plan for this now in your lifetime.
Navigating the intricacies of capital gains tax (CGT) can be a daunting task, as can knowing when to report to HMRC, especially when it comes to selling property, land, or other valuable assets.
We specialise in simplifying this complex tax process for you. Our expert team will look to optimize your eligibility for reliefs and exemptions, ensuring you receive the maximum benefits.
We also offer timely and accurate disclosure to HMRC, an essential requirement within 60 days for residential property transactions.
With our comprehensive CGT services, you can confidently tackle the tax obligations associated with your property sales, secure the best possible outcomes, and maintain compliance with the tax authorities.
