Inheritance Tax
OVERVIEW
Inheritance Tax (IHT) is a tax on the value of your estate. This includes your property, money and possessions, when you pass away
In some cases, gifts made during your lifetime may also be taken into account.
IHT is usually paid from your estate before anything is passed on to your beneficiaries. In some situations, assets may need to be sold to cover the tax.
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Want to find out more about inheritance tax planning? We’d be happy to talk through your options and answer any questions you may have.
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Full Detail
Reliefs and allowances
There are a number of reliefs and allowances available that can reduce the amount of tax payable. These may include:
- Leaving assets to a spouse or civil partner (usually exempt)
- Business Property Relief and Agricultural Property Relief
- Tax-free thresholds such as the nil-rate band
The rules can be complex, and the right approach will depend on your individual circumstances.
Why planning matters
Inheritance Tax is an area that changes regularly, and recent updates have had a particular impact on business owners, farmers, and those with more complex estates.
Without planning, more of your estate could be lost to tax than necessary. Taking advice early can help make sure your estate is structured in the most effective way.
How we can help
We provide clear, practical advice on inheritance tax planning, helping you make the most of the reliefs and allowances available.
We can also work alongside your accountant or financial adviser to ensure everything is joined up and aligned with your wider plans.
Get in Touch
Want to find out more about inheritance tax planning? We’d be happy to talk through your options and answer any questions you may have.
New website enquiry
