You have worked hard all your life and now you have a nice house, a decent pension, some investments, and some savings in the bank. But if your wealth is above £325,000 (Nil Rate Band 2019/20), unless you do some planning now, 40 percent of anything beyond that figure goes to the government.
There are several legal ways to avoid high tax burdens on the wealth you’ve earned. If your estate is above that threshold, this isn’t something to put off for the future. The richest Britons tend to pay the least in taxes, and that is because they plan well and plan in advance. It doesn’t cost much to sort out.