Inheritance tax can significantly affect the value of your estate, if it is not considered carefully in advance.
Our inheritance tax solicitors explain how IHT affects your estate. We make sure eligible allowances and reliefs are fully used through practical drafting and considering ownership plans.
We do this for property-owning individuals, business owners and families with accumulated assets.
Inheritance tax is currently charged at 40% on estates above the available allowances.
For many property-owning couples in London and the South East, estate values can reach £1 million or more once a family home, savings and investments are combined.
Every individual has a £325,000 nil‑rate band allowance. Married couples can also transfer any unused allowance to each other upon death.
The residence nil‑rate band grants a tax‑free allowance of up to £175,000 when a main home is passed to direct descendants
Spouses can transfer unused allowances so up to £1 million may pass free of inheritance tax on the second death, depending on asset ownership and wills.
That shows why careful inheritance tax planning is important, especially where property values have increased over time.
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Inheritance tax legislation is detailed and subject to change. Misunderstanding how allowances apply can result in unintended tax liabilities.
By working with specialist inheritance tax solicitors, you reduce the risk of:
We frequently work alongside financial advisers, wealth managers and accountants to ensure legal structures align with your estate plans.
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Inheritance tax planning involves careful legal analysis rather than financial modelling.
Benefits of working with us:
Our solicitor-led advice ensures your estate is structured carefully and complies with current laws.
If you are concerned about potential exposure, or would like your existing arrangements reviewed, our inheritance tax solicitors would be pleased to arrange a confidential discussion.
We will assess your estate structure and advise on any refinements needed to ensure your planning remains aligned, efficient and robust.
Contact us to arrange a confidential consultation with our inheritance tax solicitors.
Will my pension be subject to inheritance tax when I die?
Pension funds have historically fallen outside the estate for inheritance tax purposes. However, upcoming legislation is expected to make unused pension funds taxable. Pension nominations should always be reviewed alongside your estate planning.
Can inheritance tax be avoided?
Inheritance tax is unavoidable in some cases, but strategic planning can often reduce exposure. Lifetime gifting, trusts and correct ownership can reduce liability.
Do business assets qualify for relief?
Certain qualifying business assets may benefit from Business Relief, potentially reducing inheritance tax liability. Eligibility depends on the nature of the business and ownership structure.
Does inheritance tax apply to married couples?
Transfers between spouses or civil partners are usually exempt from inheritance tax. On second death, unused allowances from the first spouse may be transferred, potentially increasing the combined threshold. How assets are owned and structured is important in determining the final position.
What is the inheritance tax allowance?
The standard nil‑rate band is £325,000, and an extra residence nil‑rate band of up to £175,000 applies if you leave your main home to direct descendants; unused allowances are usually transferable between spouses. Eligibility is subject to ownership arrangements and estate value.
Getting in touch couldn’t be easier. Use our form or call us to speak to an experienced solicitor in confidence.
Please note we cannot offer legal aid.
