INHERITANCE TAX (IHT)
Death and taxes may be certainties—but paying more Inheritance Tax than necessary is not. For many families, Inheritance Tax (IHT) is the single largest tax bill they will ever face, often landing on grieving families at the worst possible time.
At Accountancy and Tax Crew, we help individuals, couples, and business owners plan ahead. With careful, legitimate planning, you can significantly reduce or even eliminate your IHT liability, ensuring more of your hard-earned wealth goes to your loved ones—not to HMRC.
What Is Inheritance Tax?
Inheritance Tax is a tax on the estate of someone who has died. It applies to:
- Money in bank and building society accounts
- Property (including your main home, buy-to-lets, and overseas property)
- Investments (shares, mutual funds, investment bonds)
- Business assets (sole trade assets, partnership shares, company shares)
- Personal possessions (valuable jewellery, art, antiques, vehicles)
- Trusts (certain trust assets may be subject to IHT)
- Gifts made during your lifetime (some gifts are subject to IHT if made within 7 years of death)
When Is IHT Due?
IHT is typically paid by the executors of the estate before assets can be distributed to beneficiaries. Key deadlines:
| Scenario | Deadline |
| IHT due on standard assets | End of the 6th month after death |
| IHT due on trusts or lifetime gifts | 6 months after the end of the month in which death occurred |
| IHT account (IHT400) filing deadline | 12 months after death |
Interest accrues on late payments. HMRC charges interest from the due date until full payment is received.
Who Pays Inheritance Tax?
In most cases, the executors of the estate pay IHT from the estate’s assets before distribution. However, if specific gifts are made (e.g., a cash gift to a friend), the recipient may be responsible for the tax on that gift.
Lifetime gifts that become chargeable (because the donor died within 7 years) are typically paid by the recipient, though the estate can agree to cover it.
Lifetime Gifts & The 7-Year Rule
Many people do not realise that gifts made during their lifetime can still be subject to IHT if they die within 7 years of making the gift.
Key IHT Reliefs & Exemptions
We help clients claim every relief they are entitled to. The most valuable include:
- Business Relief (formerly Business Property Relief)
- Agricultural Relief
- Woodlands Relief
- Charitable Gifts
- Trusts & IHT Planning
- Inheritance Tax Planning Strategies
How We Help With IHT Planning
| Stage | What We Do |
Initial review Calculate your current estimated IHT liability based on your assets, family situation, and goals.
Strategy development Recommend specific actions (gifting, trusts, business restructuring, insurance) to reduce or eliminate IHT.
Implementation Work with your solicitor, financial adviser, or insurance provider to execute the plan.
Annual review IHT planning is not one-and-done. We review your plan annually to account for changing rules, asset values, and family circumstances.
Estate administration When the time comes, we support executors with IHT400 forms, valuations, and HMRC negotiations.
Why Choose AT Crew for IHT Advice?
Holistic View
We see your entire financial picture—income, capital gains, business interests, property, and investments. IHT planning cannot be done in isolation from your other tax affairs.
Practical, Actionable Advice
We don’t just tell you what is possible. We help you actually do it—whether that means restructuring shareholdings, setting up regular gift standing orders, or liaising with your solicitor.
Business IHT Specialists
Many accountants focus on personal IHT alone. We have deep experience with Business Relief, Agricultural Relief, and structuring trading companies for IHT efficiency.
No Upselling
We are not financial advisers selling products. We are tax advisers. If we recommend life insurance or trusts, we do so because it is the right planning tool—not because we earn commission.
Whether you are just starting to think about IHT or have an existing plan that needs review, we are here to help.