Inheritance Tax (IHT) can significantly reduce the value of the estate you pass on to your family. With the right planning and advice, it’s often possible to reduce or mitigate IHT exposure, ensuring more of your wealth is preserved for future generations.

We provide clear, practical IHT advice tailored to your personal circumstances, whether you’re planning ahead or dealing with IHT as an executor.

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Understanding Inheritance Tax

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IHT is generally charged at 40% on the value of an estate above the available nil rate bands and reliefs. While many estates benefit from allowances and exemptions, the rules are complex and often misunderstood.

Key considerations include:

• The £325,000 nil rate band

• The residence nil rate band

• The impact of lifetime gifts made within seven years of death

• Transfers between spouses or civil partners

• Reliefs for business and agricultural assets

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IHT Planning – What We Advise On

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We help individuals and families plan effectively by advising on:

• Lifetime gifting strategies and use of exemptions

• Trust planning and control of family wealth

• Business Property Relief (BPR)and Agricultural Property Relief (APR)

• Structuring estates to maximise nil rate bands

• Planning for family homes and property portfolios

• Reviewing existing wills to ensure they remain tax-efficient

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IHT & Probate

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IHT is often payable before probate is granted, which can create cash flow challenges for executors and families. We provide support with:

• Preparing and submitting IHT returns

• Calculating IHT liabilities and reliefs

• Advising on payment deadlines and instalment options

• Liaising with HMRC on IHT matters

• Supporting executors through the probate process