Inheritance Tax

Expert Advice

Our Team Can Help You Significantly Reduce Inheritance Tax Liability.

Inheritance Tax

Many people worry about their estate and how much inheritance tax they will have to pay when they pass away. They naturally want to maximise what they can leave behind for their loved ones.

With Inheritance Tax charged on certain lifetime gifts, wealth on death and on certain transfers into and out of trusts. Therefore, it’s crucial that you know all about the available exemptions and reliefs.

Our team can help you significantly reduce inheritance tax liability, or even render it irrelevant.

We offer sound advice on wills and trusts, tax planning and judicious use of gifts.

Tax is currently charged at 40% on estates which are worth more than £325,000. Rises in property values have brought even those with relatively modest homes into the inheritance tax (IHT) net.

A death in the family often leads to the requirement to act quickly.

This is to ensure all assets are safe and to deal with the opportunities that are possible even after death.

Financial Planning

Equally, lifestyle changes such as divorce, redundancy or inheritance mean that your financial strategy should be reviewed.

Often a review of your family’s wealth can identify straightforward ways of organising affairs more appropriately and enable you to anticipate any tax liabilities.

Depending on your goals, we implement a strategy which is likely to involve one or more of the following:

  • lifetime gifts
  • drafting, or revising an existing will
  • establishing trusts
  • life assurance.

The use of lifetime gifts or exempt transfers in your tax planning can be highly beneficial.

For example, lifetime gifts made over 7 years before death are completely exempt. Whereas those within the 7-year limit are subject to tapering reliefs if made 3 years or more before death.

We will work closely with your solicitor to ensure that your plans are effectively put in place.

  • Julie Rhodes – Director, Tim Rhodes Stone Solutions Ltd

    On recommendation we used KA Farr & Co to register and set up our Limited company. We had minimal knowledge or experience in running our own business but were given clear explanations and advice on all aspects including personal tax, corporation tax, VAT registration and Payroll. Being inexperienced, the advice, guidance and on going efficient service provided has been of great benefit to us, giving us total peace of mind that our tax liabilities are taken care of.

  • Paul Hawkins – Hawkins Asset Management Limited

    Helpful and informative at the start of the relationship

  • Dennis Gregory – Bryden International Limited

    What I like about Farr’s is that they give friendly, easily understood advice. You make us feel that you are very much part of our business, and you share in our success or failure. Your new website and letterheads have moved you into the “modern” era. I like them. I would mark you a 5 on the Richter scale for good dealing experience.

  • David Deveney – Energyfront Limited, Merseyside

    Simply a very professional practice. You [Kath] and your team give consistently good service and have done so throughout the years. All my business and personal accounting needs are met.

  • Joanne Hilliard – Office Manager, Globe Heat Treatment Ltd

    Good service, professional and reputable accountants. We receive good advice on all matters and rate their service 5 out of 5!

  • Paul Bell – Director, P.R.B. Consulting Ltd

    I chose K.A.Farr & Co as my company’s accountancy advisor because they are a well established and highly respected local firm. I’ve always found them to provide me with a relaxed and fairly priced, but thoroughly professional, service – allowing me to concentrate on running my business.

  • Sherie Halsall – Peter Halsall Removals and Storage Ltd, Southport

    We wanted an accountant with a good reputation to give us accounting support. Everything to date has been fabulous!

  • Martin Jackson – Roxby Training Solutions Ltd

    Our business partner has used KA Farr & Co for many years and has always been very satisfied with the service. Personally, I have always found KA Farr & Co helpful and value their professional opinion

  • Mr and Mrs Rose – The Edendale House Hotel

    I have used KA Farr ever since I started my business 17 years ago. They are extremely helpful and reliable. Our relationship is like having a good friend on your side. Everyone is helpful, knowledgeable and always do what they say they will when they say they will. Thank you so much.

  • Dave Halton – Merseyside

    Kath is local, friendly, approachable and down to earth. She provides an excellent service and after more than 20 years why would I go anywhere else?

  • Richard Dehn – Partner, Bury Road Off Licence

    K A Farr & Co are always totally approachable with any questions or problems that may pop up……and…….they always seem to come up with a sensible answer. Over the years I have never been left wondering about an accounting or tax issue, I just get on the phone straight away. They are an invaluable business tool to be used to make the day to day running of your business so much easier.

  • James Redmond – Sole Trader, Builder

    At first the company was recommended to me and over the last 8 years I’ve always had 1st Class Service. Very efficient, great service, friendly and reliable.

  • Sue Siddeley – Owner, Sion Properties, Southport

    I was recommended to the company about 15 years ago. Kath has always looked after our business interests and I would certainly recommend her. I’ve even got my Dad to leave his long standing accountant and move to Kath!

  • Mr Zavieh – Delizzis, Southport

    I use KA Farr & Co because of their efficiency and friendliness

  • Dave Sumpter – Envogen UK Limited, Knowsley, Merseyside

    Always had excellent service, particularly when urgent action or advice is required, always accessible

  • Loraine – Aroma Leisure Limited

    They are always helpful and provide advice when I require it.

Our services

We offer preparation of accounts, personal and company tax and business planning.

Our services also include secretarial support, payroll/CIS services, bookkeeping, VAT and company auditing.

Other Services