Portcullis Wealth Retention Ltd will guide and advise you to help you ensure there is a tax efficient legacy left for your loved ones that will last and help your future generations.
Leave a tax efficient legacy
With over 30 years of experience in providing estate planning and wise counsel to multiple generations of clients, Portcullis Wealth Group is here to guide you through every step of effective multigenerational wealth planning, as we enter an unprecedented era of huge wealth transfer.
The Great Wealth Transfer
he Office of Budget Responsibility (OBR) estimates a total of £5.5 trillion of assets will be transferred from the baby boomer generation (born 1946 – 1964) and those born before WWII to the next generation over the next 25 years.
Using data from the Office of National Statistics (ONS) and the current inheritance tax allowances, this represents a vast pool of wealth – measured in the trillions – that could be redistributed through taxation over the same period. This, in part, explains why successive governments have quietly allowed inheritance tax allowances and rules to remain unchanged: by doing nothing, they can increase Exchequer receipts from inheritance tax gradually and unobtrusively.
About Us
Portcullis Wealth Retention Ltd is the sibling to Portcullis Wealth Planning Ltd, it provides expert advice and guidance on Wills, Trusts, and all aspects of estate planning. We also help with Probate, Trust Registration, creation of Lasting Powers of Attorney and HMRC Self Assesment. We aim to help you secure your financial legacy and ensure your loved ones are cared for, many years after your sunset.
Portcullis Wealth Retention Ltd is a member of the self-regulatory professional body, the Society of Will Writers (SWW). The SWW’s membership spans the UK, Europe, and further afield, with each member having to maintain the professional standards and ethics of the Society.
As specialists in Estate Planning and Inheritance Tax (IHT), we believe you can take proactive steps to avoid, reduce or mitigate the punitive damage inheritance tax can have on the transfer of wealth over generations. To us, IHT is a voluntary tax that can be legitimately avoided with careful planning.
Inheritance Tax Planning
In this regard, we offer a poignant, highly relevant, and infamous quote. From the 1936 case from the Court of Appeal – Inland Revenue Commissioners (hereafter HMRC for brevity) vs Duke of Westminster.
A legal challenge brought to the Court of Appeal by HMRC against the Duke of Westminster regarding his use of tax legislation at the time to reduce his taxable income. The case is often cited because the HMRC lost, and for the often-repeated decision that the presiding judge, Lord Tomlin, famously said:
Every man is entitled, if he can, to order his affairs so that the tax attaching under the appropriate Acts is less than it otherwise would be. If he succeeds in ordering them so as to secure this result, then, however unappreciative the Commissioners of Inland Revenue or his fellow taxpayers may be of his ingenuity, he cannot be compelled to pay an increased tax.
Although this ruling was attractive for others seeking to avoid tax legally by creating complex structures, it has since been weakened by subsequent cases where the courts have looked at the overall effect.
An example of the courts’ later, more restrictive approach was the Ramsay principle where, if a transaction had pre-arranged artificial steps that served no commercial purpose other than to save tax, the proper approach was to tax the effect of the transaction.
Therefore, when planning for tax avoidance, knowledge of the law and its practical application should be high on the list of desirable attributes of the advisers you decide to engage.
With over thirty years success in Estate Planning, we believe Portcullis Wealth Retention Ltd is in a very strong position to provide its clients both prospective and existing a very high level of comfort in the suitability, legality and appropriateness of its recommendations.
Planning for the future goes far beyond managing wealth – It’s about protecting your legacy and providing peace of mind for your loved ones. Wills, Trusts, and Powers of Attorney help ensure that your wishes are respected, your assets are safeguarded, and your family is cared for when it matters most.
A common misconception is that estate planning is only for the wealthy. It is an essential step for anyone who wants to preserve what they have built and transfer it efficiently and responsibly to the next generation. At Portcullis Wealth Retention Ltd, we work with you to secure your future today – so your legacy can continue to provide for those you care about tomorrow.