We help you take a considered approach to managing potential Inheritance Tax liabilities over time. Through careful planning and appropriate structures, it may be possible to reduce exposure while keeping your wider goals in focus.
We help you review your estate, consider available reliefs and allowances, and plan how wealth may be passed on in a tax-efficient way.
Without planning, Inheritance Tax can have a significant impact on the value of your estate. There are a number of ways to help manage this, but the most suitable approach will depend on your circumstances, assets and longer-term intentions.
Taking a structured view can help you balance flexibility, control and tax efficiency, while keeping your plans aligned with what matters most to you.
We can help you understand the options available, from gifting and trusts through to more specialist solutions, and build a clear, practical strategy that fits within your wider financial plan.
Yes, you can gift assets before death, and some gifts may be tax-free if you live for at least seven years after making them (known as the seven-year rule). Smaller gifts may also be exempt from inheritance tax.
There are several ways to reduce inheritance tax, including making gifts during your lifetime, leaving money to charity (which may reduce IHT), using the nil-rate band and residence nil-rate band, and setting up trusts. Planning ahead can significantly lower the amount of tax due and working with a financial advisor can ensure you put the right plans in place for your circumstances as part of a wider estate planning exercise.
Yes, you can gift assets during your lifetime to reduce the value of your estate. However, gifts are subject to the seven-year rule—if you give a gift and live for more than seven years, it is generally exempt from IHT. Some gifts, such as small annual gifts or gifts to a spouse, are also exempt.
Yes, leaving money to charity can reduce your inheritance tax bill. If you leave at least 10% of your estate to charity, you may qualify for a reduced inheritance tax rate of 36% instead of the standard 40% on the rest of your estate.
The 7-year rule refers to the exemption of gifts made more than seven years before your death from inheritance tax. If you survive for at least seven years after making a gift, it is generally not subject to IHT. However, gifts made within seven years may be subject to tax, with a tapering relief if you survive between 3 and 7 years.
