If you'd want a say in who gets what — and to keep the taxman's share as small as legally possible — a will and some planning matter. This guide explains wills, Lasting Powers of Attorney, trusts and inheritance-tax basics for sole traders.
Die without a will and the law decides who inherits — often not who you'd choose, and rarely tax-efficiently. For business owners it's worse: an unplanned estate can force a fire-sale of the thing you built. A little planning now avoids a lot of pain later.
This page explains, in plain English, what this area involves — so you know the questions worth asking.
Regulated advice can only come from an FCA-authorised firm. You can search the FCA register, or ask us for an introduction to Equity & General, the firm we have an introducer agreement with.
Any introduction is optional and free. If you go on to take advice, the adviser explains any fees before anything goes ahead.
If you have any assets, a business, or people you'd want to provide for, yes. Without one, the intestacy rules decide — and they may not reflect your wishes at all. A specialist can make it straightforward.
A legal document letting someone you trust make decisions for you if you lose capacity. Setting it up while you're well is far easier than the alternative. It can be arranged alongside your will.
There are legitimate reliefs and planning options — from gifting to trusts to business relief. A specialist adviser can tell you what genuinely applies to your estate.
General information only. This page explains a topic in general terms. It is not advice, a personal recommendation or a financial promotion, and it does not invite or encourage you to buy any product or service. Everyone's circumstances are different.
Regulated financial advice can only be given by a firm authorised by the Financial Conduct Authority — you can find one on the FCA register (register.fca.org.uk). Buzz Accounting is not authorised to give regulated financial advice. We have an introducer agreement with Equity & General (E&G), authorised and regulated by the FCA (No. 474163); if you would like, we can introduce you — that is entirely optional and there is no obligation.
The value of investments and any income from them can fall as well as rise, and you may get back less than you invested. Your home may be repossessed if you do not keep up repayments on a mortgage. Tax treatment depends on your individual circumstances and may change. Will-writing, trusts and some estate-planning services are not regulated by the Financial Conduct Authority.
