investments and financial advice

The transfer of assets between spouses is exempt from Capital Gains Tax and Inheritance Tax.
Make a valid Will, and review it at regular intervals. Wills can play an important role in Inheritance Tax planning. Ensure that the Will satisfies your present wishes, and watch out for changes in tax legislation affecting it.
If your estate is in excess of £250,000 consider leaving, part of your estate on death to children or grandchildren rather than your spouse (or perhaps to a discretionary trust in which the surviving spouse is a beneficiary). Not doing so may waste the Inheritance Tax 'nil rate band' (£250,000 for the tax year ending 5 April 2003).
Consider buying unquoted shares in trading companies. These include most shares traded on AIM and on OFEX. Such shares are normally entitled to exemption from Inheritance Tax once held for two years. However, you need to be careful as it is the status of the company at the time of death that determines its exempt status.
It is possible to mitigate Inheritance Tax for your dependants with Insurance based products placed into suitable trusts.

Seek professional advice on the use of:

Annual exemption - £3,000 each p.a. (or £6,000 p.a. per married couple) for the year ending 2003. You can go back one year only to utilise unused allowances.
Bonds with life cover written in trusts.
Gift and loan schemes.
Immediate discount schemes.
Small gift exemption and exemption on marriage.
Potentially exempt transfers ("PETs").
Nil rate band trusts.
Deeds of variation.

Inheritance Tax ('IHT') Tips