Inheritance Tax Planning

We will consider your whole situation, family as well as financial, taking into account the capital gains tax and income tax implications as well as inheritance tax. We never lose sight of your need to make sure that you yourself have enough to live on and we will give you clear and sensible advice about tax planning opportunities.

We appreciate that tax planning can be complex and that it can be difficult to take in all the implications in one go. We have plain English guidance notes and are happy to talk matters through with you more than once.

We will review your current family and financial circumstances in conjunction with your goals and look at inheritance tax planning opportunities during your lifetime to include gifting either to individuals or into trusts and on death through your Will.

We are aware of other planning by using financial products and can give you impartial advice about the impact of the different products.  We cannot advise on the individual products as we are not authorised to do so but we can put you in touch with suitably qualified third parties to assist you.

We can assist you with utilising the various Inheritance Tax exemptions and direct benefits such as pensions or life policies outside of your estate for Inheritance Tax purposes whilst retaining control of the asset and allowing your family to benefit in the most tax efficient manner.

For tax planning on death, we can advise how to make the most of your exemptions, including

• Agricultural Property Relief
• Business Property Relief
• The Inheritance Tax threshold, for unmarried couples
• The Residence Nil Rate Band, especially where the estate is near £2 million or you intend to leave part of it to beneficiaries who are not your spouse or direct descendants
• The Transferable Inheritance Tax threshold, where one or both party(ies) to the marriage has been widowed previously

We can also advise on the use of trusts both to reduce Inheritance Tax down the generations, and to make sure your assets stay within the family.

We specialise in bespoke estate planning advice and provide a personalised service based on your circumstances and needs.

If you have trusted accountants or financial advisers, we will work in conjunction with them to ensure that your planning is cohesive.

Our team of Solicitors have the additional The Society of Trust and Estate Practitioners (STEP) accreditation.