Inheritance Tax Planning


Get good advice, Make a will.

Where available use the available relief’s exemptions

  • Spouse/Civil Partner exemption
  • Business/Agricultural relief
  • Family Home Relief
  • Life Assurance relief

Revenue allows two types of Life Policies to be used to pay Inheritance/CGT without treating the proceeds as part of the taxable estate

Section 72 policies are used to pay Inheritance Tax. These are life policies with a guaranteed premium so the premium remains constant. You cannot convert an existing policy to a S72 policy it must be taken out for the purposes of paying inheritance tax. The younger you are the lower the cost. A married couple must take out a joint plan.

Section 73 policies are used to pay Gift Tax. These are savings policies and must be in place for a minimum of 8 years to qualify. The person giving the gift owns the plan and must make the payments.

A spouse inherits tax free. Sons, Daughters, relatives and friends pay tax on all sums over their tax free threshold. There are certain tax reliefs available and it is vital that you are aware of these when planning transfer of wealth.

At HD Financial services we work with you to help your successors pay their tax liability.

How Can I Help?

Contact me at my office or submit your inquiry online.

Chris provided me with enormous support while setting up my business. She continues to provide me with ongoing financial planning advice and she ensures that I am involved in planning for life’s financial ups and downs. I highly recommend Chris for all of your financial planning.

Kay Magner
d’Barbers, Cork

Preserve, Plan, Protect Your Future