Tax avoidance is about using the tax rules to work in your favour, tax allowances and exemptions exist for good reason and you should plan to use them.
Tax evasion is to be avoided! It will end in fines and tears, as well as prison so don’t go there…
Doing nothing is an option but is effectively donating your hard earned money to the Government.
When it comes to Inheritance Tax(IHT) planning we have to decide with the client what their life expectancy is likely to be as there are 7 year products, a 2 year product and a product which does not require survivorship at all.
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