Inheritance Tax and estate planning

Our advisers can help you navigate the UK’s complicated and changing tax regulations, so that those who benefit from an inheritance will only pay the necessary amount of tax.

The importance of planning

Inheritance Tax (IHT) doesn’t just affect the very wealthy. We are living and working longer which means we may accumulate more assets. Property has also gone up in value, which could push your estate (the money and other assets you leave behind) into IHT territory. In fact, 2022-23 was a record-breaking year for IHT receipts, with £7.1billion paid to HMRC.

There are several ways to reduce, or even eliminate, the amount of Inheritance Tax that is paid when you die. However, few are completely straightforward, and a well-written will and good planning is essential. Often a tailored combination of the various tools available is more beneficial than any single solution.

Our advisers help people at all stages in life to prepare for the future in a way that makes the most of their money now, while ensuring that it will benefit the people and causes dearest to them.

Using trusts
Trusts can be separate from your estate, so inheritors don’t need to pay Inheritance Tax (IHT) on them. However, they are highly complex and need careful planning.
Giving it away
Some forms of gifting are exempt from IHT, and others can be if you survive seven years after making them. Again, this is a complex area that is easy to get wrong.
Taking out insurance
You can take out a policy that provides a payout upon your death that may cover the potential IHT bill.
Business relief
Certain investments will qualify for this relief, but they are classed as high-risk products by our regulator, so it’s important to take professional advice on this form of investing.
Careful pension planning
Currently, most pensions fall outside your estate and are exempt from IHT. However, this needs to be managed alongside your pension planning.
Gifting to charity
If you leave 10% or more of your assets to a registered charity, you can potentially reduce IHT payable from 40% to 36%, but this won’t be appropriate for everyone.

Our other services

Pension planning

Pension planning is fundamentally about retirement planning. Our expert financial advisers can help ensure that your pension will provide you with the income you’ll need in retirement.
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Investment planning

Our investment expertise is central to our financial advice offering. We fully appreciate the significance of what you entrust us to do with your wealth and we never take that for granted.
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In retirement planning

Our advisers can help you use the right blend of secure and flexible income to fund your retirement, and leave a legacy for your loved ones.
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Protection and insurance

We insure our cars, homes, holidays, and even our pets! Our advisers can help you find the right type of insurance to protect your family should the worst happen.
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Tax optimisation

Tax rules in the UK are amongst the trickiest in the world. They are very complicated and change often. Our advisers can make sure you only pay the necessary amount of tax due.
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Later life and long-term care planning

Caring for older loved ones or needing care yourself can be complicated and emotionally challenging. We can guide you on the best possible route for later life and long-term care.
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Annuity Bureau

An annuity enables you to exchange some or all your pension pot for an annual income. This is guaranteed for a certain period, often the rest of your life.
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