You are here: Home » Services » Private Client » Family Limited Partnerships

Family Limited Partnerships

Since 2006 the ability to use trusts to protect family wealth has been significantly reduced. If you wish to gift more than £325k for an individual or £650k for a married couple or civil partners there will be an immediate charge to inheritance tax (IHT) at the rate of 20% on the balance above these amounts.

The Family Limited Partnership (FLP) is a bespoke vehicle which allows you to gift assets to family members within a partnership structure without suffering the trust lifetime IHT charges. Equally as important it allows you to retain control of the assets whilst at the same time reducing your estate for IHT purposes.

Please click here for further information.

Sub Menu

Other Tools

About Brodies LLP

Brodies is a client-focused, leading Scottish law firm delivering the highest quality and innovative legal services in Scotland and the UK.

Brodies has full-service expertise in real estate and property, corporate, banking and financial services, IT, employment, litigation and dispute resolution, planning, projects, tax and private client law. Rated No.1 in multiple practice areas across the firm by the top legal directories, the firm's leading legal experts advise clients in all industries across the private sector and many public sector organisations.

Brodies has grown to become market leader in Scotland for Scots Law and Scottish Jurisdictional work while providing expertise in major Scottish, UK and cross-border transaction work.

With offices in Edinburgh and Glasgow, the firm has a major presence in the Scottish market and international capabilities.

Site Search

Main Navigation

Family Limited Partnerships

Sub Menu

Other Tools

About Brodies LLP

Quick Links Menu

Brodies - Edinburgh Office

Brodies - Glasgow Office