Inheritance tax

On your death, inheritance tax (IHT) is levied at a hefty 40 per cent on your estate above an allowance known as the nil rate band – currently £325,000 – so forward planning is essential to protect your assets for your loved ones and ensure they are financially secure.

We will work with you to review your estate, including your personal and business assets, and explore tax-minimisation opportunities, such as trusts.

We can also advise you on ways to make best use of the gifts and exemptions allowed under the IHT regime, including lifetime gifts, annual gifts, gifts to charities and agricultural and business property relief.

We will also make sure that we look at your estate planning from all angles so that, for example, a gift that saves inheritance tax does not unnecessarily create a capital gains tax liability.

We can also manage your estate planning to give you financial security during your lifetime and can make arrangements that take into consideration the possible need for long-term care in the future.

We can also advise on life insurance policies written in trust, which remove the proceeds of the policy from your future inheritance tax liability, providing your family with a tax-free lump sum towards any IHT on your estate.

To find out more about how we can help you, or for a free, no obligation quote, please contact us.


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