Clarke Willmott's Inheritance tax Plan

For individuals permanently living in the United Kingdom, Inheritance tax is potentially a tax on the value of everything you will own at death above the Revenue’s allowance threshold. Currently (2006/07 tax year) the proportion of an individual’s savings and assets valued above £285,000 will be taxed at 40% on that person’s death. There is usually a complete exemption for assets left to a surviving spouse or to a registered partner by virtue of the Civil Partnership Act 2004. CWIP is a savings scheme which helps individuals to provide their family with an extremely efficient way to reduce and/or pay inheritance tax. Clarke Willmott is a law firm. We act for businesses, for banks and for wealthy individuals across the UK.

We have developed CWIP in response to our clients' concerns (and the growing number of enquiries we are receiving) about inheritance tax. Our aim in doing so was to develop a cost-effective, transparent savings option that would assist our clients to build up a bigger pot that would help tackle a potential inheritance tax liability. CWIP involves setting up a bare trust into which investors pay a one-off sum, or regular amounts, which is invested in equities and bonds. The trust can also receive the benefits of a life insurance policy. On death, the accumulated total can pay inheritance tax or be distributed to your beneficiaries. We have teamed up with Alliance Trust Savings Limited (part of Alliance Trust plc) and National Savings & Investments to provide the bond and equity aspects of the scheme.

To increase the potential for growth we charge a small flat fee rather than initial and ongoing commission. In addition, the value of the scheme is visible at any time, and investors can stop and start monthly savings without incurring penalties.

To download the full brochure, click here.

For further information, email us at cwip@clarkewillmott.com

Please be advised, if you would prefer a hard copy of our CWIP brochure, then please telephone 0845 434 8432