Personal services

Inheritance tax

Inheritance Tax legislation has become a minefield for those who have built up their assets to make up a considerable estate for their heirs.

The bottom line is that if the estate is worth more than the current inheritance tax threshold (the nil rate band), then the value in excess of that threshold will be taxed at 40%.

A number of measures to reduce an individual’s inheritance tax liability have been tried over the years, but the Government has worked hard to close all available loopholes, and is likely to claim a tax liability where measures have been taken simply to reduce the IHT bill.

However, it’s not all bad news, and there are a number of routes for families who want to limit their future liability. These could include the use of:

  • Trusts
  • Gifts
  • Pension contributions
  • Financial service products such as Life Assurance, Discounted Gift Trusts and Gift and Loan Trusts.

We work closely with a range of trusted Independent Financial Advisers to provide advice on all these measures, and to help you decide which will work best in your circumstances.

Contact us to arrange a Personal IHT Assessment.

Estate Planning

None of us like to think ahead to our death, but in this world of complex tax legislation, it is critical to plan now for what will hopefully not happen for many years. If we fail to make the right provision for them, our family and loved ones may suffer. In the worst case scenario, a substantial slice of your hard-earned wealth could end up in the Chancellor’s coffers!

It is equally important when planning to transfer your estate that you make adequate provision for yourself and your partner or spouse in your later years. Striking this balance calls for considerable skill and foresight – and a detailed knowledge of the tax regime. We provide a comprehensive estate planning service that includes:

  • Help with drawing up and reviewing your will
  • Making full use of exemptions and lower tax rates on lifetime transfers
  • Optimising lifetime transfers between spouses
  • Transferring agricultural or business property
  • Transferring assets into trust
  • Arranging adequate life assurance to cover potential inheritance tax liabilities.

Contact us to arrange a full estate planning review, and make sure that all your heirs – except the Chancellor – get the maximum possible benefit from your estate.


Get in touch

Whether you are looking for support in the shape of an extended accounts team or just to provide that bit of extra help when you need it, we can help.