Inheritance Tax Planning

For free initial legal advice call our Wills and Trusts Solicitors and we will help you.

Call us on 0808 239 4634

Our expert Wills and Trusts Solicitors can help you maximise the amount you leave to your loved ones when you pass away.

In England and Wales, the Inheritance Tax threshold is £325,000, so if your overall Estate (everything you own upon death) is worth more than this, then Inheritance Tax may be payable.

The standard Inheritance Tax rate is 40% but through careful planning and maximum use of Inheritance Tax allowances, many people can reduce the amount of Inheritance Tax liability and ensure more goes to their beneficiaries.

We can talk you through all the Inheritance Tax planning options available and consider the most effective in relation to your assets.

For free initial legal advice get in touch with our Wills and Trusts Solicitors.

Call us on 08002605010 or request a callback

More Information on Inheritance Tax Planning

Inheritance Tax is a tax on the property, money and possessions of someone who’s died.

For many people, the total value can easily exceed the £325,000 Inheritance Tax threshold. As a result, a sizeable chunk of your wealth could end up going to the state, rather than your loved ones.

And that’s where our Wills and Trusts Solicitors can help you with Inheritance Tax planning.

Inheritance Tax Planning Options include

  • Making a Will
  • Use of the Inheritance Tax Nil Rate Band and Residential Nil Rate Band 
  • Annual Exemptions
  • Wedding Gifts
  • Small Gifts
  • Gifts out of Surplus Income
  • Gifts to Charities 
  • Potentially Exempt Transfers
  • Business Succession Planning by utilising Reliefs for Business and Agricultural Property
  • Creating Trusts
  • Using the Family Home 
  • Tax Efficient Investments 
  • Restructuring after Marriage or Divorce 
  • Deeds of Variation where the terms of a Will can be varied after death to reduce Inheritance Tax.

We recommend that you combine an Inheritance Tax planning appointment with a review of your Will to ensure you’ve made a tax efficient Will.

Our Wills and Trusts Solicitors can help you make the most of your Inheritance Tax planning. Get in touch to see how we can help you.

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Simpson Millar Solicitors are a national law firm with over 500 staff and offices in Billingham, Bristol, Cardiff, Catterick, Lancaster, Leeds, Liverpool, London and Manchester.