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Inheritance Tax, planned early.
For many families, IHT is the single largest tax bill they will ever face. With careful, legitimate planning you can significantly reduce – or even eliminate – the liability.
What is Inheritance Tax?
IHT is a tax on the estate of someone who has died – covering money in accounts, property, investments, business assets, personal possessions, certain trusts, and some gifts made within 7 years of death.
When is IHT due?
Standard assets
End of the 6th month after death.
Trusts & lifetime gifts
6 months after the end of the month death occurred.
IHT400 filing
The full IHT account is due 12 months after death.
Lifetime gifts & the 7-year rule
Gifts made during your lifetime can still be subject to IHT if you die within 7 years of making them – many people do not realise this until it is too late to plan around it.
Key reliefs & exemptions
Business Relief
Formerly Business Property Relief, for qualifying trading assets.
Agricultural Relief
For qualifying farmland and agricultural property.
Woodlands Relief
For qualifying commercial woodland.
Charitable gifts
Reduce the taxable estate, and can lower the overall rate.
Trusts & IHT planning
Structured to move assets out of the taxable estate.
Lifetime planning strategies
Gifting, insurance and pension structuring reviewed together.
How we help with IHT planning
Initial review
Calculate your current estimated IHT liability based on assets, family situation and goals.
Strategy development
Recommend gifting, trusts, business restructuring or insurance to reduce or eliminate IHT.
Implementation
Work with your solicitor, financial adviser or insurance provider to execute the plan.
Annual review
Rules, asset values and family circumstances change – so we revisit the plan every year.
Explore related services
A situation rarely fits one box neatly — here is what else often applies.
Just starting to think about IHT, or reviewing an existing plan?
We are here to help either way.