Estate and inheritance tax planning

Most people want to ensure that the wealth they have generated during their life is passed on to the next generation as efficiently as possible, but the UK’s inheritance tax regime can prevent a significant sum of money making it to beneficiaries.

With inheritance tax (IHT) levied at 40 per cent on estates above a £325,000 threshold, or £475,000 threshold if part of the estate is a property passed to a direct descendant then it is easy to see how a person’s estate can be quickly swallowed up by taxation.

The price of many homes has pushed an increasing number of estates over the IHT threshold and so taking expert advice to reduce future tax bills for your family is likely to be a wise investment.

By working with our team, we can ensure that you minimise tax liabilities, while also retaining enough capital and income to give you a comfortable standard of living later in life.

We can assist you in making provision for yourself and your partner that takes into account potential changes to your housing, health and care needs in later life.

Our estate and inheritance tax planning services include:

  • help with drawing up and reviewing your will
  • making full use of IHT exemptions and lower tax rates on lifetime transfers
  • optimising lifetime transfers between spouses
  • transferring agricultural or business property
  • transferring assets into a trust
  • arranging life assurance to cover potential IHT liabilities
  • exploring opportunities to make charitable bequests to reduce the rate of IHT paid.

To find out how we can help you, please contact a member of our estate and inheritance tax planning team.