"I have known David Henderson for seven years and during that time, he has had full control of my financial investment portfolio through retirement and the consequences of adjustment to widowhood. I have never had any cause to doubt his skilled advice and commitment. This has been delivered through a friendly and totally reliable relationship. I have regarded him as a trustworthy friend and in terms of the financial manoeuvres, his practical adjustments have (thus far in a volatile world!) all been safe and successful. He has been helpfully reassuring at times based on an extensive knowledge of theway the markets and global economy works I find this very educational. I have recommended his services to several friends all of whom have commented most favourably after his input totheir finances."
Medical & Dental Inheritance Tax Advice
Inheritance Tax is a tax on your estate – the total value of your property, money and possessions – which becomes payable if, when you die, your estate’s total value is more than the Inheritance Tax threshold currently in force.
The current threshold at which the estate must pay 40% tax is £325,000 for a single person, or for people who are married, in a civil partnership or widowed, the threshold is currently £650,000 between them.
Normally there is no Inheritance Tax to pay if you leave everything to your spouse or civil partner, (or a charity, or a community amateur sports club).
If you give your home away to your children (including adopted, foster or stepchildren), or grandchildren, your threshold is increased to £450,000.
But in the worst case situation, if you’re single and your estate is worth, say, £425,000, then tax will be liable on £100,000, which gives rise to a tax bill of £40,000. This is paid before the balance of your estate is dealt with under the terms of your will, so that’s £40,000 less going to your preferred beneficiaries.
The rules involved in inheritance tax are complex and it is for this reason alone it is important to discuss your situation with us, as only then will you be able to understand its potential effects on you, whether your loved ones will lose out on some of their inheritance and, more importantly, what can be done through us to reduce or even eliminate its effects.
Note that if you are a partner in a professional practice, then the sum paid to your nominated beneficiary under any Shareholder/Partnership Protection policy is paid directly from your business insurer to the named beneficiary, and not counted as part of your estate.
The below calculator can help give you an estimate of your inheritance tax (IHT) liability.
INHERITANCE TAX PLANNING, WILL WRITING, TRUSTS AND TAXATION ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.
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We have the benefit of many years spent advising doctors and dentists and guiding them through financial planning for protecting the family, savings and investing for the future, retirement, and the complex tax issues that can arise. -
There are many different ‘tools’ that help you save for retirement, and the taxation and investment elements of each can appear baffling. We explain, recommend and monitor pension products for you, putting you in control of the choices that will achieve your goals. -
Our mission is to use our knowledge and skills to provide unbiased financial advice, so that you can face the future with increased confidence regarding your financial position today, and the financial security of your family in future. -
Every investment carries some element of risk, which is why we reflect risk management in the financial planning we provide for clients. We work with you so that you are financially well organised, aware of your current and likely future financial position, and therefore remain in control of the choices you make. -
Buying a property can be stressful and time consuming at the best of times, and for some borrowers finding and selecting the most suitable mortgage for them can be a contributory factor. Working with us means that you’ll benefit from informed advice from the outset, backed by up-to-date financial intelligence, and years of practical experience.
