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Inheritance tax planning

What it is

Inheritance tax (IHT) is a tax that can apply to your estate when you die. Not every family pays it. Whether it arises depends on what you own, who inherits, and which reliefs you can use.

The standard nil-rate band and the extra residence nil-rate band (when a home is left to direct descendants) are the starting point for most people. Rules change, and your position depends on your facts.

We look at the shape of your estate — property, savings, pensions, businesses — and explain where planning might reduce a future bill. That can include how your will is written, whether a trust helps, and gifts you might make while you are alive.

We do not sell investments or insurance. There is no commission. If you need an independent financial adviser or an accountant, we will say so rather than stretch beyond our role.

Who it’s for

  • Your home and savings together may be worth more than the nil-rate band
  • You have heard about the residence nil-rate band and are not sure if it applies
  • You want to make gifts in your lifetime without creating a mess later
  • You own a business or agricultural property that may qualify for relief

Questions about inheritance tax planning

Will my family have to pay inheritance tax?

It depends on the value of your estate, who inherits, and which reliefs apply. Many estates pay nothing. Some pay a substantial bill.

We can talk through the current nil-rate band, the residence nil-rate band where a home passes to descendants, and whether gifts or will structure might help. This is general guidance, not a tax return.

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