Inheritance Tax Planning

Inheritance Tax (IHT) can often be a complex subject and affects many individuals.

IHT is liable on assets in excess of your Nil Rate Band, which is £325,000 per person and up to £650,000 per married couple.

IHT is applied at a rate of 40%, which can potentially leave your family with a large bill to pay and in certain circumstances, mean that assets must be sold to pay the tax.

However, as with other areas of tax, it may be possible to reduce the amount you pay.

We can help by firstly assessing your position and estimating the potential tax liability that your estate could suffer. We will then consider your options and put forward a recommendation to help reduce the tax and increase the value of your estate available for your beneficiaries.

As with any form of succession planning, starting early allows more scope to use the reliefs available, which can provide greater protection of your assets.

We can provide advice on a range of needs: 

  • Reducing your inheritance (IHT) tax bill
  • Protecting your assets
  • Passing assets on to your family  

For further insight into the various exemptions that are available, please see below. 

Helpful articles

Read more

Key Contacts

Jonathan McDowall Financial Planning Consultant

Jim Wilson Managing Director

Related Knowledge Posts

5 Ways to Reduce Your Inheritance Tax

Are you wondering how Inheritance Tax may affect your assets and the money that you leave to your family in the future? As with many other areas of tax, there are ways in which you can minimise IHT.

How to Use a Pension to Buy Commercial Property

We are often asked by business owners, "Can I use my pension to buy commercial property?" and for some individuals, this could be very beneficial and tax-efficient.