How do I begin proper tax planning to minimise the inheritance tax my son and daughter will have to pay
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I would prefer to find a local expert based in Bath. Any recommendations?
I found www.simplyfinance.co.uk/tax/inheritance-tax.html to be a good starting point. You may want to read it before contacting an inheritance tax expert.
i would recommend that you speak with an IFA, you can get an initial consultation for free with IFAs listed on the www.unbiased.co.uk website.
they will help you determine what capital and income you will need during your lifetime and explain ways of mitigating your potential liability. IHT is not an issue to try and DIY unless you are willing to accept the consequences.