Inheritance Solicitors
Helping you plan ahead so more of your estate passes to the people and causes you care about.
Planning your will with inheritance tax in mind.
Inheritance tax can significantly reduce the value of an estate if it is planned for in advance. For many families, particularly those with property or business interests, the threshold can be reached more easily than expected.
As experienced inheritance solicitors, we help individuals, couples and business owners create wills that reflect their personal wishes and tax position.
This page explains how inheritance considerations sit within your will. Where more complex inheritance tax planning is required, we can advise on the wider structuring of your estate.
Inheritance tax triggers
Rising house prices and business valuations mean that more and more estates are now liable for inheritance tax.
The standard nil‑rate band is set at £325,000, with an additional £175,000 residence nil‑rate band available when a home is inherited by direct descendants.
Estates valued above these thresholds may face a 40% tax on the excess, so plan ahead to reduce tax.
Common triggers for reviewing your inheritance tax position include:
- Estates above the nil‑rate band.
- Significant property value growth or business assets.
- Poor asset structuring or gifts within seven years can reduce the available allowances.
How inheritance tax works
Inheritance tax applies a 40% rate to estates above the nil-rate band. Additional allowances, such as the residence nil-rate band, may apply where property is passed to direct descendants.
Transfers between spouses or civil partners are usually exempt; gifts to charities and certain lifetime gifts within set limits can also be excluded.
The rules are complex and can change. Our inheritance solicitors provide precise guidance tailored to your individual estate and family situation.
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Using your will to manage inheritance tax.
The will is a key tool in inheritance tax planning. The way assets are structured and distributed can affect how tax is calculated and when it becomes payable.
With careful planning, you can:
- Maximise the nil‑rate and residence nil‑rate bands.
- Structure gifts to make full use of available exemptions.
- Balance asset protection with overall tax efficiency.
- Use trusts where appropriate, placing them where they add value and aligning them with your wider lifetime gifting strategy.
We take a holistic view of your estate and ensure your will supports your long-term goals
Why careful inheritance planning matters.
Inheritance tax planning requires precise legal drafting and a clear understanding of current legislation. Poorly structured arrangements can lead to unintended tax consequences or missed opportunities.
By working with specialist inheritance tax solicitors, you benefit from:
- Up‑to‑date expertise on the latest inheritance tax rules and allowances.
- Structured advice that aligns with your will and wider estate planning.
- Careful coordination between your will, trusts and lifetime planning strategies.
- Clear guidance on gifting allowances, exemptions and potential tax implications.
- Confidence that your overall estate plan is robust, compliant and tax‑efficient.
Our role is to provide balanced advice that protects your family while ensuring compliance with current tax law.
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Why clients choose Thomas Mansfield Solicitors.
Our private client team advises individuals, couples and business owners across London and the South East on inheritance tax planning within wills and estate structures.
Clients value that:
- We translate complicated tax rules into clear, understandable terms.
- We take a practical, step‑by‑step approach focused on what matters to your family.
- We support higher-value estates with significant property assets.
- We integrate inheritance tax advice with broader estate planning.
Meet our team
Planning ahead can make a meaningful difference.
If you are concerned about inheritance tax exposure, or would like your will reviewed from a tax perspective, our inheritance tax solicitors are here to help.
What to do next
Frequently asked questions
Are pensions subject to inheritance tax?
Certain lifetime gifts may fall outside your estate if you survive for seven years. There are also annual exemptions and allowances that can be used without immediate tax consequences. Larger gifts may still be taken into account if death occurs within seven years. The rules are detailed, so gifting strategies should be considered alongside your wider estate planning.
Can a will reduce inheritance tax?
A will can't eliminate inheritance tax on its own. Careful drafting ensures allowances are used, assets pass efficiently and trusts are included when needed. For example, gifts to a spouse or to a charity are generally exempt from inheritance tax. Effective inheritance tax planning usually combines a well-structured will with lifetime planning and a clear understanding of current rules.
Can business assets reduce inheritance tax?
Pension funds have traditionally fallen outside the estate for inheritance tax purposes. Currently pensions are governed by nomination forms rather than your will, so reviewing these arrangements is essential for coordinated estate planning. However, recent government announcements indicate that pensions may be brought within the scope of inheritance tax from April 2027, subject to final legislation.
Do married couples pay inheritance tax?
Transfers between spouses or civil partners are usually exempt from inheritance tax. The surviving spouse can receive any unused nil‑rate band plus the residence nil‑rate band, resulting in a larger allowance on the second death. While such arrangements can significantly reduce exposure, the position depends on how assets are owned and structured within the will.
What is the inheritance tax threshold?
The nil-rate band is currently £325,000. In addition, the residence nil-rate band may provide up to £175,000 - where a main home passes to direct descendants. For married couples or civil partners, unused allowances can often be transferred, potentially increasing the combined threshold to £1 million, depending on circumstances. As legislation changes periodically, it is important to obtain up-to-date advice based on your current asset values and family structure.
Contact us
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.