Inheritance Tax Planning
Helping you plan ahead with clarity, confidence, and professional guidance every step of the way Start the ConversationRecognised Leaders in Inheritance Tax Solutions
We specialise in Inheritance Tax strategies and have been recognised for our work through various awards, such as Money Management Inheritance Tax Planner of the Year 2010. We regularly run Inheritance Tax seminars to assist clients with their understanding of inheritance tax, assess how much their potential tax bill would be and offer solutions to mitigate this where possible.
The Evolution of Inheritance Tax
Over the years, promises to abolish Inheritance Tax (IHT) have never materialised, with governments instead introducing concessions for married couples, pension holders, and ISA savers.
Key rule changes in 2007 allowed spouses and civil partners to use unused allowances from the first partner’s death — a complex but valuable benefit. In 2015, further opportunities arose with new pension rules, ISAs, and allowances for couples owning a main property worth up to £1,000,000.
KEY POINT – with the new rules, there is now more of an incentive, not less, to ensure your planning is up to date and taking full account of all the various benefits.
Current Rules and Allowances
Inheritance Tax is currently levied on any individuals who are not making an inter-spousal transfer where both spouses are UK domiciled. The first band of IHT is taxed at 0% (Nil Rate Band). All transfers above the Nil Rate Band are taxed at 40%. The Nil Rate Band is currently £325,000.
There are many lifetime allowances and gift exemptions that can be utilised by an individual. There is also a range of ways to mitigate or reduce any tax liability, although the Exchequer is continually cutting back on methods that specialists like ourselves use. However, what has been taken away in some areas has been balanced by new opportunities in others.
The information contained above is based on our understanding of legislation, whether proposed or in force, and market practice at the time of writing. Levels, bases and reliefs from taxation may be subject to change.
Planning Ahead With Confidence
Pensions have become a fantastic planning tool for succession planning and inheritance tax mitigation. Even if you already have arrangements in place, it is well worth reviewing them in light of the many changes over recent years.
There are many factors to take into account when considering an inheritance planning solution. If a client were to receive illegal or incorrect advice, their family could be left with a substantial tax bill. This makes it extremely important to ensure advice is professional, independent, and delivered by fully qualified individuals.
Please note that tax planning is not covered by regulation and does not come under the FCA — although any investment advice will do.
How Can We Help?
We are specialists who, at any one time, work with other specialists to help our clients. We provide news for our clients online, as well as email bulletins, but we do not provide a free service. For more information about this and our occasional seminars please contact us.
When should I review my Inheritance Tax situation?
If you believe your family would have to pay an Estate Tax bill upon a relative’s death, then it is worthwhile reviewing the situation as soon as possible. You may or may not need to take action on something immediately, but either way, you would be aware of the most tax-efficient methods of saving money before you lose the opportunity. For example, one may consider using annual and gift allowances where possible because you will lose them if not utilised within a time period; you can only carry forward one year’s annual allowance, and previous unutilised ones would be lost.
Always seek professional advice from a qualified adviser to ensure you are using the most cost-efficient method of Inheritance Tax planning.
This is information only and does not constitute advice.
The Financial Conduct Authority does not regulate estate planning’.
Free Initial Consultation
We offer a complimentary initial consultation to help you understand how our inheritance tax planning services can protect your estate and support your long-term wishes. Whether you want to reduce your potential tax liability, preserve wealth for future generations, or explore effective strategies for passing on your assets, our experienced advisers are here to listen, assess your situation, and provide clear, practical guidance without obligation.