Benjamin Franklin is reputed to have said that nothing in this world is more certain than death and taxes. That may be a truism, but it is also fair to say that, with careful planning and a degree of luck, inheritance should be viewed as a voluntary tax. Members of the department, who have many years’ experience between them, are well able to advise as to how maximum use may be made of efficient tax planning measures both during lifetime and on death.
It is not just high net worth individuals, expatriates and non-residents who can benefit from carefully selected tax planning measures. Many people, particularly in this part of the country, have a property or a share in it whose value exceeds the threshold above which tax is payable. Thus, whilst the tax should be treated as voluntary, the necessity to take advice should be regarded as essential.