For those of us who are having to deal with tragic loss and then the administration of a loved one’s estate, surely, then, the Revenue would permit us some breathing space on the usual Inheritance Tax filing deadlines?

If you run your company by yourself, perhaps as a sole director and shareholder, your hard work in building up your business will have cost you many hours of time and sleepless nights. But have you set up your company in such a way to allow it to keep trading after your death?

The experience of caring for and seeing a parent or other loved one suffer for a prolonged period in the final stages of life, even when the grief has passed, causes many individuals to want their journey to be managed differently.

Death, mental incapacity and old age are topics which can make people feel uncomfortable. It is important to remember, though, that preparations made whilst you are well enough to make decisions for yourself can make life far easier for you, and your family, later in life.

Many business-owners will already be aware of the potentially valuable relief which can be used to shield businesses from Inheritance Tax. But are all business-owners aware of the traps which may endanger its availability?

Although no one relishes the idea of losing the ability to manage their financial affairs themselves, putting in place the appropriate measures whilst you are still able can save a lot of time and cost further down the line.